Barclays PLC Buys 515,022 Shares of Rocket Companies, Inc. (NYSE:RKT)

Barclays PLC raised its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 216.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 753,345 shares of the company's stock after buying an additional 515,022 shares during the quarter. Barclays PLC's holdings in Rocket Companies were worth $8,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RKT. KBC Group NV grew its stake in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after acquiring an additional 2,226 shares in the last quarter. Sterling Capital Management LLC boosted its position in Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock worth $93,000 after purchasing an additional 3,019 shares during the period. Caisse Des Depots ET Consignations acquired a new position in shares of Rocket Companies in the fourth quarter valued at $99,000. Garner Asset Management Corp bought a new position in shares of Rocket Companies in the fourth quarter valued at about $118,000. Finally, Huntington National Bank lifted its stake in shares of Rocket Companies by 548,750.0% during the 4th quarter. Huntington National Bank now owns 10,977 shares of the company's stock worth $124,000 after buying an additional 10,975 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Down 2.3 %

Shares of RKT traded down $0.30 during trading hours on Friday, reaching $12.86. The stock had a trading volume of 9,344,144 shares, compared to its average volume of 4,746,078. The firm has a 50-day simple moving average of $13.43 and a 200 day simple moving average of $13.49. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $25.67 billion, a price-to-earnings ratio of -80.38 and a beta of 2.35.

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio is currently 801.25%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RKT. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a research report on Wednesday, April 2nd. Wedbush reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Rocket Companies currently has an average rating of "Hold" and a consensus target price of $14.38.

Rocket Companies Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.