Victory Capital Management Inc. raised its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 74.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,448 shares of the company's stock after buying an additional 50,287 shares during the period. Victory Capital Management Inc.'s holdings in Rocket Companies were worth $1,322,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Companies by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock valued at $13,098,000 after buying an additional 122,534 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Rocket Companies in the 4th quarter valued at $135,000. Jones Financial Companies Lllp lifted its stake in shares of Rocket Companies by 131.7% in the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock valued at $410,000 after purchasing an additional 20,706 shares during the last quarter. Bruni J V & Co. Co. lifted its stake in shares of 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 purchasing an additional 324,976 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Rocket Companies in the 4th quarter valued at $154,000. Institutional investors and hedge funds own 4.59% of the company's stock.
Rocket Companies Price Performance
Rocket Companies stock traded down $0.25 during trading hours on Friday, hitting $14.10. 6,863,772 shares of the stock were exchanged, compared to its average volume of 3,399,156. 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 stock has a market capitalization of $28.14 billion, a P/E ratio of -88.09 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 moving average is $13.14 and its two-hundred day moving average is $14.64.
Rocket Companies Cuts Dividend
The company also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, March 20th. Rocket Companies's dividend payout ratio is 801.25%.
Analyst Upgrades and Downgrades
RKT has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. UBS Group raised shares of Rocket Companies from a "sell" rating to a "neutral" rating and cut their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Keefe, Bruyette & Woods boosted their target price on shares of Rocket Companies from $10.50 to $12.00 and gave the stock an "underperform" rating in a research report on Monday, March 3rd. Wedbush reissued a "neutral" rating and set a $13.00 target price on shares of Rocket Companies in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $13.83.
Read Our Latest Analysis on Rocket Companies
Rocket Companies Profile
(
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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