Charles Schwab Investment Management Inc. Buys 122,534 Shares of Rocket Companies, Inc. (NYSE:RKT)

Charles Schwab Investment Management Inc. grew its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 11.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,163,243 shares of the company's stock after buying an additional 122,534 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.06% of Rocket Companies worth $13,098,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after acquiring an additional 2,226 shares during the period. SBI Securities Co. Ltd. acquired a new position in Rocket Companies in the fourth quarter valued at about $135,000. Proficio Capital Partners LLC acquired a new position in Rocket Companies in the fourth quarter valued at about $154,000. V Square Quantitative Management LLC grew its stake in Rocket Companies by 130.2% during the fourth quarter. V Square Quantitative Management LLC now owns 14,371 shares of the company's stock worth $162,000 after buying an additional 8,127 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Rocket Companies during the third quarter worth approximately $235,000. Institutional investors own 4.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on RKT shares. The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on shares of Rocket Companies from $10.50 to $12.00 and gave the stock an "underperform" rating in a report on Monday, March 3rd. Morgan Stanley dropped their target price on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of 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, Wedbush restated a "neutral" rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.83.

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Rocket Companies Stock Down 2.6 %

Shares of RKT traded down $0.36 on Tuesday, hitting $13.40. The company's stock had a trading volume of 4,833,754 shares, compared to its average volume of 3,416,530. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of -83.75 and a beta of 2.39. The firm's fifty day moving average price is $13.20 and its 200-day moving average price is $14.53. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies's payout ratio is presently 801.25%.

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.