Northern Trust Corp Sells 1,325,448 Shares of UWM Holdings Co. (NYSE:UWMC)

Northern Trust Corp lessened its holdings in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,985,910 shares of the company's stock after selling 1,325,448 shares during the period. Northern Trust Corp owned 0.19% of UWM worth $17,527,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of UWMC. HB Wealth Management LLC grew its stake in shares of UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock valued at $82,000 after buying an additional 2,631 shares during the period. Mariner LLC lifted its holdings in UWM by 5.1% during the 4th quarter. Mariner LLC now owns 64,455 shares of the company's stock worth $378,000 after buying an additional 3,126 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of UWM by 20.7% during the 4th quarter. Victory Capital Management Inc. now owns 20,330 shares of the company's stock worth $119,000 after purchasing an additional 3,488 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of UWM by 13.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company's stock worth $174,000 after purchasing an additional 3,524 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of UWM by 9.9% during the 4th quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock worth $381,000 after purchasing an additional 5,849 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

UWM Stock Down 1.3%

UWMC traded down $0.06 during midday trading on Tuesday, hitting $4.17. 210,509 shares of the company's stock traded hands, compared to its average volume of 3,114,635. UWM Holdings Co. has a one year low of $4.00 and a one year high of $9.74. The stock's fifty day simple moving average is $4.91 and its 200-day simple moving average is $5.70. The company has a market cap of $6.66 billion, a PE ratio of -18.11 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analysts' expectations of $558.80 million. As a group, equities analysts anticipate that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.60%. UWM's dividend payout ratio is currently -307.69%.

Wall Street Analysts Forecast Growth

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

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.