Rocket Companies, Inc. (NYSE:RKT) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its holdings in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 131.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,427 shares of the company's stock after purchasing an additional 20,706 shares during the period. Jones Financial Companies Lllp's holdings in Rocket Companies were worth $410,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bruni J V & Co. Co. lifted its stake 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 valued at $20,944,000 after buying an additional 324,976 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Rocket Companies in the fourth quarter valued at $154,000. Bank of New York Mellon Corp lifted its position in shares of Rocket Companies by 39.4% in the fourth quarter. Bank of New York Mellon Corp now owns 468,620 shares of the company's stock valued at $5,277,000 after acquiring an additional 132,453 shares in the last quarter. Vawter Financial Ltd. acquired a new stake in shares of Rocket Companies during the fourth quarter valued at $716,000. Finally, Truist Financial Corp increased its position 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 purchasing an additional 2,621 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RKT has been the topic of a number of recent research reports. Morgan Stanley reduced 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 report on Thursday, December 19th. Wedbush reissued a "neutral" rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Barclays cut their price target on Rocket Companies from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, November 13th. Finally, Royal Bank of Canada decreased their price objective on Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $13.83.

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Rocket Companies Price Performance

RKT stock opened at $13.16 on Wednesday. The stock has a 50-day moving average price of $12.49 and a two-hundred day moving average price of $14.86. The company has a market cap of $26.26 billion, a PE ratio of -82.22 and a beta of 2.39. 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 12-month low of $10.06 and a 12-month high of $21.38.

Rocket Companies Cuts Dividend

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

Rocket Companies Company Profile

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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