National Bank of Canada FI Sells 143,600 Shares of Rocket Companies, Inc. (NYSE:RKT)

National Bank of Canada FI reduced its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 98.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,322 shares of the company's stock after selling 143,600 shares during the quarter. National Bank of Canada FI's holdings in Rocket Companies were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. KBC Group NV increased its holdings in 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 purchasing an additional 2,226 shares during the period. Lakeshore Financial Planning Inc. boosted its stake in Rocket Companies by 21.7% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock valued at $158,000 after acquiring an additional 2,500 shares in the last quarter. Truist Financial Corp grew its stake in Rocket Companies by 12.6% during the 4th quarter. Truist Financial Corp now owns 23,373 shares of the company's stock worth $263,000 after buying an additional 2,621 shares during the last quarter. Virtu Financial LLC lifted its stake in Rocket Companies by 22.1% in the third quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock valued at $310,000 after buying an additional 2,925 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Rocket Companies by 1.3% in the fourth quarter. Swiss National Bank now owns 248,900 shares of the company's stock valued at $2,803,000 after acquiring an additional 3,200 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wedbush restated a "neutral" rating and issued a $13.00 target price on shares of Rocket Companies in a research note on Wednesday, March 5th. UBS Group upgraded shares of Rocket Companies from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $12.50 to $11.50 in a report on Friday, January 10th. JPMorgan Chase & Co. decreased their target price on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $14.25.

Rocket Companies Stock Down 2.6 %

NYSE:RKT traded down $0.34 during trading hours on Tuesday, hitting $12.52. 7,032,111 shares of the company's stock traded hands, compared to its average volume of 4,509,772. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The firm has a market cap of $24.98 billion, a P/E ratio of -78.22 and a beta of 2.35. The stock's fifty day moving average price is $13.52 and its two-hundred day moving average price is $13.81. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38.

Rocket Companies Cuts Dividend

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

About Rocket Companies

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.