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

Northern Trust Corp cut its holdings in UWM Holdings Co. (NYSE:UWMC - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & 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 about 0.19% of UWM worth $17,527,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC purchased a new position in UWM in the fourth quarter valued at approximately $72,000. Sanctuary Advisors LLC purchased a new position in UWM in the fourth quarter valued at approximately $77,000. HB Wealth Management LLC lifted its stake in UWM by 23.0% in the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock valued at $82,000 after purchasing an additional 2,631 shares during the last quarter. Sei Investments Co. purchased a new position in UWM in the fourth quarter valued at approximately $82,000. Finally, Secure Asset Management LLC purchased a new position in UWM in the fourth quarter valued at approximately $119,000. 53.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on UWMC shares. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group dropped their target price on UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Wedbush restated a "neutral" rating and set a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, UWM presently has a consensus rating of "Hold" and a consensus price target of $6.86.

UWM Price Performance

Shares of UWMC stock traded up $0.18 on Friday, reaching $4.32. The company's stock had a trading volume of 6,195,068 shares, compared to its average volume of 3,121,957. 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 Holdings Co. has a 12-month low of $4.00 and a 12-month high of $9.74. The company has a market capitalization of $6.90 billion, a P/E ratio of -18.76 and a beta of 1.75. The stock's 50 day simple moving average is $4.94 and its 200-day simple moving average is $5.72.

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

UWM Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.27%. UWM's dividend 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.