EMG Holdings L.P. increased its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 170.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,748 shares of the company's stock after acquiring an additional 139,252 shares during the quarter. Rocket Companies makes up about 1.5% of EMG Holdings L.P.'s holdings, making the stock its 14th largest position. EMG Holdings L.P.'s holdings in Rocket Companies were worth $2,486,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $19,971,000 after purchasing an additional 72,308 shares during the period. Cerity Partners LLC raised its stake in Rocket Companies by 85.1% in the third quarter. Cerity Partners LLC now owns 31,190 shares of the company's stock valued at $599,000 after purchasing an additional 14,340 shares in the last quarter. Townsquare Capital LLC bought a new stake in Rocket Companies during the third quarter valued at approximately $238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rocket Companies by 2.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,437 shares of the company's stock worth $5,439,000 after buying an additional 7,824 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Rocket Companies by 79.2% in the 3rd quarter. Verition Fund Management LLC now owns 78,982 shares of the company's stock worth $1,516,000 after buying an additional 34,895 shares during the last quarter. Institutional investors own 4.59% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on RKT. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $12.00 to $14.00 in a research report on Wednesday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price target on shares of Rocket Companies in a research note on Tuesday. 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 report on Tuesday, January 14th. UBS Group upgraded Rocket Companies from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Finally, Morgan Stanley cut their target price on 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Rocket Companies presently has an average rating of "Hold" and a consensus price target of $14.08.
Read Our Latest Research Report on Rocket Companies
Rocket Companies Trading Up 11.1 %
RKT stock traded up $1.53 during midday trading on Friday, hitting $15.38. The company had a trading volume of 36,549,894 shares, compared to its average volume of 4,106,403. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The stock has a market cap of $30.70 billion, a price-to-earnings ratio of -96.13 and a beta of 2.39. The stock's 50 day moving average price is $13.49 and its 200 day moving average price is $14.23.
Rocket Companies Cuts Dividend
The company also recently declared a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is currently 801.25%.
About Rocket Companies
(
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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