Geode Capital Management LLC Buys 41,206 Shares of UWM Holdings Co. (NYSE:UWMC)

Geode Capital Management LLC raised its stake in UWM Holdings Co. (NYSE:UWMC) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,546,818 shares of the company’s stock after purchasing an additional 41,206 shares during the quarter. Geode Capital Management LLC owned 1.62% of UWM worth $13,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in shares of UWM during the 2nd quarter worth approximately $52,000. Xponance Inc. bought a new stake in UWM during the second quarter worth $76,000. Intech Investment Management LLC purchased a new position in UWM in the second quarter worth $85,000. Orion Portfolio Solutions LLC purchased a new position in UWM in the third quarter worth $85,000. Finally, Frank Rimerman Advisors LLC bought a new position in UWM in the 2nd quarter valued at $93,000. Institutional investors own 53.59% of the company’s stock.

UWM Trading Down 0.7 %

Shares of UWMC stock opened at $5.74 on Tuesday. UWM Holdings Co. has a 1 year low of $5.44 and a 1 year high of $9.74. The company’s fifty day simple moving average is $6.24 and its two-hundred day simple moving average is $7.45. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of -24.96 and a beta of 1.65.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.97%. UWM’s dividend payout ratio (DPR) is -173.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. UBS Group increased their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group decreased their target price on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, UWM has a consensus rating of “Hold” and an average price target of $7.28.

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.