Swiss National Bank Grows Stake in UWM Holdings Corporation $UWMC

Key Points

• The Swiss National Bank increased its holdings in UWM Holdings Corporation by 38.6%, owning 244,700 shares valued at approximately $1.34 million at the close of the last reporting period.
• UWM recently announced a quarterly dividend of $0.10, with an annualized yield of 7.0%, to be paid on October 9th to stockholders recorded on September 18th.
• Following recent stock evaluations, UWM Holdings received mixed ratings from analysts, with a consensus rating of "Hold" and target prices ranging from $4.50 to $6.00.

Swiss National Bank raised its stake in UWM Holdings Corporation (NYSE:UWMC - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,700 shares of the company's stock after purchasing an additional 68,100 shares during the period. Swiss National Bank's holdings in UWM were worth $1,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in UWM by 15.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock valued at $2,229,000 after purchasing an additional 54,160 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of UWM by 112.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock valued at $648,000 after buying an additional 62,862 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of UWM by 9.9% during the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock valued at $381,000 after buying an additional 5,849 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of UWM during the first quarter valued at about $65,000. Finally, GAMMA Investing LLC grew its holdings in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after buying an additional 2,958 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

UWM Stock Up 1.9%

UWM stock traded up $0.11 during midday trading on Friday, hitting $5.69. 7,868,479 shares of the stock were exchanged, compared to its average volume of 10,397,731. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.45. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of -113.70 and a beta of 1.75. The business's 50-day moving average price is $4.62 and its 200-day moving average price is $4.87. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The business had revenue of $758.70 million for the quarter, compared to analysts' expectations of $621.60 million. On average, research analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 7.0%. UWM's payout ratio is -800.00%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on UWMC shares. Keefe, Bruyette & Woods cut shares of UWM from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. The Goldman Sachs Group reduced their price objective on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective for the company in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.54.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $4.22, for a total value of $1,688,151.92. Following the transaction, the chief executive officer directly owned 1,499,352 shares in the company, valued at $6,327,265.44. The trade was a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 12,001,080 shares of company stock worth $54,528,907 in the last 90 days. 94.11% of the stock is currently owned by insiders.

About UWM

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.