Secure Asset Management LLC Acquires New Holdings in UWM Holdings Co. (NYSE:UWMC)

Secure Asset Management LLC bought a new stake in shares of UWM Holdings Co. (NYSE:UWMC) in the fourth quarter, Holdings Channel.com reports. The firm bought 20,339 shares of the company’s stock, valued at approximately $119,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UWMC. FMR LLC increased its stake in UWM by 24.5% during the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock valued at $87,064,000 after buying an additional 2,010,985 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in UWM during the third quarter worth approximately $21,797,000. State Street Corp boosted its stake in UWM by 5.0% during the 3rd quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after purchasing an additional 76,221 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after buying an additional 41,206 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of UWM by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 574,290 shares of the company’s stock worth $4,893,000 after buying an additional 7,846 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

UWM Trading Down 0.4 %

NYSE UWMC opened at $6.15 on Friday. The firm’s 50 day moving average price is $6.03 and its two-hundred day moving average price is $7.29. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. UWM Holdings Co. has a twelve month low of $5.31 and a twelve month high of $9.74. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of -26.72 and a beta of 1.66.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The company had revenue of $526.43 million during the quarter, compared to analysts’ expectations of $517.02 million. During the same quarter last year, the firm earned $0.29 earnings per share. Equities analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 19th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend was Thursday, December 19th. UWM’s payout ratio is presently -173.91%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UWMC. Morgan Stanley decreased their target price on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lowered their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group dropped their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.39.

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.