Boston Partners Raises Position in Rocket Companies, Inc. (NYSE:RKT)

Boston Partners boosted its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 29.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,313,780 shares of the company's stock after acquiring an additional 2,829,292 shares during the period. Boston Partners owned 0.62% of Rocket Companies worth $138,673,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company's stock worth $78,836,000 after acquiring an additional 1,269,795 shares during the last quarter. Geode Capital Management LLC grew its holdings in Rocket Companies by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company's stock worth $39,235,000 after acquiring an additional 12,735 shares during the last quarter. Bruni J V & Co. Co. grew its holdings in Rocket Companies by 21.2% in the 4th quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company's stock worth $20,944,000 after acquiring an additional 324,976 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rocket Companies by 11.8% in the 4th 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, Bank of New York Mellon Corp grew its holdings in Rocket Companies by 39.4% in the 4th quarter. Bank of New York Mellon Corp now owns 468,620 shares of the company's stock worth $5,277,000 after acquiring an additional 132,453 shares during the last quarter. Institutional investors own 4.59% of the company's stock.

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Rocket Companies Stock Down 1.7 %

NYSE RKT traded down $0.25 during trading hours on Friday, reaching $14.10. 6,863,772 shares of the company's stock traded hands, compared to its average volume of 3,405,837. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The firm has a market cap of $28.14 billion, a PE ratio of -88.09 and a beta of 2.39. The firm has a 50-day simple moving average of $13.14 and a 200 day simple moving average of $14.61. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

Rocket Companies Cuts Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wedbush reaffirmed a "neutral" rating and set a $13.00 target price on shares of Rocket Companies in a research note on Wednesday, March 5th. UBS Group raised shares of Rocket Companies from a "sell" rating to a "neutral" rating and cut their target price for the company from $12.50 to $11.50 in a research note on Friday, January 10th. The Goldman Sachs Group cut 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. Morgan Stanley cut their target price on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Rocket Companies from $10.50 to $12.00 and gave the company an "underperform" rating in a research note on Monday, March 3rd. 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 company currently has a consensus rating of "Hold" and a consensus target price of $13.83.

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.