Pitcairn Co. Has $107,000 Stock Position in UWM Holdings Co. (NYSE:UWMC)

Pitcairn Co. decreased its position in shares of UWM Holdings Co. (NYSE:UWMC) by 29.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,777 shares of the company’s stock after selling 6,041 shares during the period. Pitcairn Co.’s holdings in UWM were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of UWMC. Vanguard Group Inc. boosted its position in UWM by 0.3% during the third quarter. Vanguard Group Inc. now owns 8,842,460 shares of the company’s stock valued at $42,886,000 after purchasing an additional 28,071 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of UWM in the fourth quarter worth about $129,000. HB Wealth Management LLC acquired a new stake in shares of UWM in the fourth quarter worth about $75,000. Global Retirement Partners LLC acquired a new stake in shares of UWM in the fourth quarter worth about $107,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of UWM by 10.5% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 22,438 shares of the company’s stock worth $160,000 after buying an additional 2,140 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Stock Up 3.2 %

Shares of UWMC opened at $8.17 on Friday. The company has a market capitalization of $780.89 million, a P/E ratio of 264.00 and a beta of 1.64. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58 and a quick ratio of 1.58. UWM Holdings Co. has a one year low of $4.49 and a one year high of $8.34. The business’s 50 day simple moving average is $7.30 and its 200-day simple moving average is $6.90.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Thursday, June 20th. UWM’s dividend payout ratio is 1,333.33%.

Analyst Ratings Changes

A number of research firms have recently commented on UWMC. Wedbush reiterated a “neutral” rating and issued a $7.00 price objective on shares of UWM in a research note on Friday, May 17th. Barclays lifted their price objective on UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $7.00 price objective (up from $6.00) on shares of UWM in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.94.

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.