LPL Financial LLC boosted its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 908,473 shares of the company's stock after purchasing an additional 227,804 shares during the quarter. LPL Financial LLC's holdings in Rocket Companies were worth $10,229,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. AXQ Capital LP lifted its holdings in shares of Rocket Companies by 125.7% in the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after purchasing an additional 81,695 shares during the last quarter. Quantbot Technologies LP lifted its stake in Rocket Companies by 76.9% in the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock valued at $3,049,000 after buying an additional 117,728 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Rocket Companies by 131.7% during the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock valued at $410,000 after acquiring an additional 20,706 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Rocket Companies by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock worth $13,098,000 after acquiring an additional 122,534 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Rocket Companies in the 3rd quarter worth about $1,486,000. Institutional investors own 4.59% of the company's stock.
Wall Street Analyst Weigh In
RKT has been the subject of a number of analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 target price on shares of Rocket Companies in a research note on Tuesday. JPMorgan Chase & Co. cut their target price 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. The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Wedbush reissued a "neutral" rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Wednesday. Three 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.08.
Read Our Latest Analysis on Rocket Companies
Rocket Companies Price Performance
NYSE:RKT traded up $1.53 during trading hours on Friday, reaching $15.38. 36,549,894 shares of the company's stock were exchanged, compared to its average volume of 4,106,403. 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 company has a market capitalization of $30.70 billion, a P/E ratio of -96.13 and a beta of 2.39. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The business's 50-day simple moving average is $13.49 and its two-hundred day simple moving average is $14.23.
Rocket Companies Cuts Dividend
The business also recently disclosed a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio is presently 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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