Ameriprise Financial Inc. Buys 62,370 Shares of UWM Holdings Co. (NYSE:UWMC)

Ameriprise Financial Inc. grew its position in UWM Holdings Co. (NYSE:UWMC - Free Report) by 449.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,238 shares of the company's stock after purchasing an additional 62,370 shares during the period. Ameriprise Financial Inc.'s holdings in UWM were worth $448,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in UWM by 121.4% during the fourth quarter. SG Americas Securities LLC now owns 42,725 shares of the company's stock valued at $251,000 after buying an additional 23,424 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of UWM by 37.0% in the fourth quarter. Bleakley Financial Group LLC now owns 39,723 shares of the company's stock valued at $233,000 after acquiring an additional 10,734 shares during the period. Salzhauer Michael bought a new position in UWM during the fourth quarter worth $880,000. Allspring Global Investments Holdings LLC increased its position in UWM by 103.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 57,085 shares of the company's stock worth $322,000 after acquiring an additional 29,042 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in UWM in the 4th quarter valued at $77,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on UWMC. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and reduced their target price for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. The Goldman Sachs Group lowered their price target on shares of UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Wedbush reaffirmed a "neutral" rating and set a $6.50 price objective on shares of UWM in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.86.

UWM Price Performance

NYSE:UWMC traded up $0.09 on Friday, reaching $4.20. The stock had a trading volume of 6,943,275 shares, compared to its average volume of 3,322,025. The company has a market capitalization of $6.72 billion, a P/E ratio of -18.26 and a beta of 1.70. UWM Holdings Co. has a 1-year low of $3.89 and a 1-year high of $9.74. The stock has a fifty day moving average price of $4.47 and a 200-day moving average price of $5.53. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). The business had revenue of $613.37 million during the quarter, compared to analysts' expectations of $558.80 million. Research analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM's payout ratio is presently -307.69%.

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.