US Bancorp DE Reduces Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

US Bancorp DE lessened its holdings in UWM Holdings Co. (NYSE:UWMC) by 84.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,690 shares of the company’s stock after selling 24,724 shares during the quarter. US Bancorp DE’s holdings in UWM were worth $40,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. X Square Capital LLC purchased a new stake in shares of UWM in the third quarter valued at about $298,000. International Assets Investment Management LLC boosted its holdings in UWM by 752.0% in the 3rd quarter. International Assets Investment Management LLC now owns 63,900 shares of the company’s stock valued at $544,000 after purchasing an additional 56,400 shares during the last quarter. TriaGen Wealth Management LLC purchased a new stake in shares of UWM in the 3rd quarter valued at approximately $453,000. Blue Trust Inc. increased its holdings in shares of UWM by 106.7% during the 3rd quarter. Blue Trust Inc. now owns 33,995 shares of the company’s stock worth $290,000 after buying an additional 17,545 shares during the last quarter. Finally, Creative Planning raised its position in shares of UWM by 42.4% during the 3rd quarter. Creative Planning now owns 48,963 shares of the company’s stock valued at $417,000 after buying an additional 14,589 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price target on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price objective on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Morgan Stanley began coverage on shares of UWM in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 target price for the company. Finally, Wedbush boosted their price target on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.53.

UWM Price Performance

UWM stock opened at $5.92 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $7.39 and a 200-day simple moving average of $7.68. The stock has a market cap of $9.45 billion, a P/E ratio of -25.72 and a beta of 1.67. UWM Holdings Co. has a 12-month low of $5.42 and a 12-month high of $9.74.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is -173.91%.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares in the company, valued at $1,449,344. This trade represents a 87.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 94.11% of the company’s stock.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.