JPMorgan Chase & Co. increased its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,161,979 shares of the company's stock after purchasing an additional 174,978 shares during the period. JPMorgan Chase & Co. owned 0.41% of Rocket Companies worth $91,904,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. AXQ Capital LP raised its holdings in shares of Rocket Companies by 125.7% during the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after acquiring an additional 81,695 shares in the last quarter. Quantbot Technologies LP raised its stake in Rocket Companies by 76.9% during the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock valued at $3,049,000 after purchasing an additional 117,728 shares in the last quarter. Jones Financial Companies Lllp grew 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 worth $410,000 after buying an additional 20,706 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Rocket Companies during the third quarter valued at approximately $1,486,000. Hedge funds and other institutional investors own 4.59% of the company's stock.
Analyst Upgrades and Downgrades
RKT has been the subject of several analyst reports. Wedbush reissued a "neutral" rating and issued a $13.00 price objective on shares of Rocket Companies in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a report on Wednesday. Morgan Stanley decreased their price objective on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, December 19th. Finally, The Goldman Sachs Group dropped their target price 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $14.08.
Get Our Latest Research Report on RKT
Rocket Companies Stock Up 11.1 %
Shares of NYSE RKT traded up $1.53 during midday trading on Friday, hitting $15.38. The company's stock had a trading volume of 36,549,894 shares, compared to its average volume of 4,106,403. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm has a market capitalization of $30.70 billion, a price-to-earnings ratio of -96.13 and a beta of 2.39. The business's fifty day simple moving average is $13.49 and its two-hundred day simple moving average is $14.23. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38.
Rocket Companies Cuts Dividend
The firm also recently announced a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is presently 801.25%.
Rocket Companies Company 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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