NFJ Investment Group LLC Makes New $5.18 Million Investment in UWM Holdings Corporation $UWMC

NFJ Investment Group LLC purchased a new position in shares of UWM Holdings Corporation (NYSE:UWMC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,181,738 shares of the company’s stock, valued at approximately $5,176,000. NFJ Investment Group LLC owned 0.07% of UWM as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in UWM by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock worth $83,042,000 after purchasing an additional 1,676,754 shares during the period. Brandes Investment Partners LP acquired a new stake in UWM during the 4th quarter worth about $45,867,000. Balyasny Asset Management L.P. grew its position in UWM by 116.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after purchasing an additional 3,224,806 shares during the period. Integrated Investment Consultants LLC acquired a new stake in UWM during the 3rd quarter worth about $32,630,000. Finally, Bank of America Corp DE grew its position in UWM by 40.5% during the 3rd quarter. Bank of America Corp DE now owns 5,279,523 shares of the company’s stock worth $32,152,000 after purchasing an additional 1,520,923 shares during the period. 53.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UWMC has been the topic of several analyst reports. Weiss Ratings raised UWM from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Morgan Stanley set a $5.00 target price on UWM in a research report on Thursday, May 7th. Argus upgraded UWM to a “hold” rating in a research report on Tuesday, March 31st. BTIG Research restated a “buy” rating and set a $10.00 target price on shares of UWM in a research report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $5.50 target price on shares of UWM in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.79.

Insiders Place Their Bets

In related news, CEO Ishbia Mat sold 1,003,333 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $3.57, for a total value of $3,581,898.81. Following the transaction, the chief executive officer directly owned 2,995,754 shares of the company’s stock, valued at approximately $10,694,841.78. This trade represents a 25.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 24,942,634 shares of company stock valued at $91,607,854. Company insiders own 80.30% of the company’s stock.

UWM Price Performance

NYSE:UWMC opened at $2.38 on Friday. UWM Holdings Corporation has a 52 week low of $2.28 and a 52 week high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13. The stock has a market capitalization of $3.80 billion, a PE ratio of 8.80 and a beta of 1.72. The stock’s 50-day moving average price is $3.29 and its 200-day moving average price is $4.27.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $901.43 million for the quarter, compared to analysts’ expectations of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. As a group, equities analysts expect that UWM Holdings Corporation will post 0.38 EPS for the current fiscal year.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 16.8%. UWM’s dividend payout ratio (DPR) is currently 148.15%.

UWM Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.