Allspring Global Investments Holdings LLC Reduces Position in UWM Holdings Co. (NYSE:UWMC)

Allspring Global Investments Holdings LLC reduced its holdings in UWM Holdings Co. (NYSE:UWMC) by 70.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,633 shares of the company’s stock after selling 216,400 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of UWM worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quent Capital LLC boosted its holdings in shares of UWM by 59.8% during the 4th quarter. Quent Capital LLC now owns 13,401 shares of the company’s stock worth $96,000 after purchasing an additional 5,013 shares during the last quarter. Wedmont Private Capital acquired a new position in UWM during the fourth quarter worth $104,000. Patriot Financial Group Insurance Agency LLC grew its holdings in UWM by 10.5% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 22,438 shares of the company’s stock valued at $160,000 after buying an additional 2,140 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of UWM by 18.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,044,367 shares of the company’s stock worth $9,915,000 after acquiring an additional 322,021 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of UWM by 30.6% during the 3rd quarter. FMR LLC now owns 6,077,084 shares of the company’s stock worth $29,474,000 after acquiring an additional 1,424,451 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of UWM from an “underperform” rating to a “market perform” rating and set a $6.00 price objective for the company in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UWM in a report on Wednesday, January 10th. They set a “hold” rating and a $6.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, UWM has a consensus rating of “Hold” and an average price target of $5.59.

UWM Stock Performance

Shares of UWM stock opened at $6.57 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.86 and a quick ratio of 1.86. The stock has a market capitalization of $620.93 million, a price-to-earnings ratio of -34.58 and a beta of 1.60. The business has a 50-day moving average of $6.64 and a 200 day moving average of $6.27. UWM Holdings Co. has a 12 month low of $4.49 and a 12 month high of $7.75.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.26). UWM had a net margin of 0.79% and a return on equity of 2.45%. The business had revenue of ($114.58) million during the quarter, compared to analysts’ expectations of $402.14 million. As a group, sell-side analysts forecast that UWM Holdings Co. will post 0.3 earnings per share for the current year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Wednesday, March 20th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend was Tuesday, March 19th. UWM’s dividend payout ratio is currently -210.53%.

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.