Commonwealth Equity Services LLC lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 27.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,987 shares of the company's stock after purchasing an additional 31,111 shares during the quarter. Commonwealth Equity Services LLC's holdings in Rocket Companies were worth $1,621,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Rocket Companies by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company's stock worth $19,971,000 after purchasing an additional 72,308 shares during the period. Cerity Partners LLC boosted its position in shares of Rocket Companies by 85.1% in the 3rd quarter. Cerity Partners LLC now owns 31,190 shares of the company's stock worth $599,000 after purchasing an additional 14,340 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Rocket Companies in the 3rd quarter worth approximately $235,000. Townsquare Capital LLC bought a new position in Rocket Companies during the 3rd quarter valued at approximately $238,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rocket Companies by 2.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,437 shares of the company's stock valued at $5,439,000 after buying an additional 7,824 shares during the last quarter. Institutional investors own 4.59% of the company's stock.
Rocket Companies Stock Performance
Shares of RKT stock traded up $1.21 on Wednesday, reaching $13.81. The stock had a trading volume of 34,897,697 shares, compared to its average volume of 3,917,497. The stock has a market cap of $27.57 billion, a P/E ratio of -86.31 and a beta of 2.39. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The company has a 50 day simple moving average of $13.39 and a 200 day simple moving average of $14.27.
Rocket Companies Cuts Dividend
The company also recently declared a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, March 20th. Rocket Companies's dividend payout ratio is currently 801.25%.
Analyst Ratings Changes
RKT has been the topic of a number of recent research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a research report on Wednesday. Wedbush reaffirmed a "neutral" rating and issued a $13.00 target price on shares of Rocket Companies in a report on Wednesday, March 5th. The Goldman Sachs Group dropped their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group raised shares of Rocket Companies from a "sell" rating to a "neutral" rating and reduced their price target for the company from $12.50 to $11.50 in a research report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Rocket Companies has an average rating of "Hold" and an average price target of $14.08.
Check Out Our Latest Report on RKT
Rocket Companies Profile
(
Free Report)
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.
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