Bank of New York Mellon Corp Boosts Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Bank of New York Mellon Corp increased its holdings in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) by 15.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,087,978 shares of the company's stock after purchasing an additional 147,459 shares during the period. Bank of New York Mellon Corp owned approximately 0.07% of UWM worth $6,386,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of UWM by 56.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company's stock worth $3,541,000 after purchasing an additional 149,216 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of UWM by 88.5% in the 3rd quarter. Intech Investment Management LLC now owns 23,241 shares of the company's stock worth $198,000 after acquiring an additional 10,913 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in UWM by 7.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company's stock valued at $858,000 after acquiring an additional 7,334 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of UWM by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 574,290 shares of the company's stock valued at $4,893,000 after buying an additional 7,846 shares during the last quarter. Finally, FMR LLC grew its stake in shares of UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company's stock worth $87,064,000 after acquiring an additional 2,010,985 shares in the last quarter. Institutional investors own 53.59% of the company's stock.

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UWM Price Performance

NYSE:UWMC traded up $0.01 during trading hours on Thursday, hitting $5.92. The stock had a trading volume of 3,031,726 shares, compared to its average volume of 2,500,624. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of -25.72 and a beta of 1.64. UWM Holdings Co. has a one year low of $5.31 and a one year high of $9.74. The company has a 50 day simple moving average of $6.17 and a two-hundred day simple moving average of $6.69. 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 announced its earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $560.21 million during the quarter, compared to analyst estimates of $645.75 million. Research analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend is Thursday, March 20th. UWM's dividend payout ratio is currently 500.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded UWM from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $6.50 to $7.50 in a research note on Monday, March 3rd. Morgan Stanley reduced their target price on shares of UWM from $7.50 to $6.50 and set an "equal weight" rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reiterated a "neutral" rating and issued a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, UWM presently has an average rating of "Hold" and a consensus target price of $7.25.

UWM 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.