Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 72.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,134 shares of the company's stock after selling 61,222 shares during the period. Sei Investments Co.'s holdings in Rocket Companies were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of RKT. KBC Group NV lifted 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 valued at $68,000 after buying an additional 2,226 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Rocket Companies during the fourth quarter valued at approximately $135,000. Daiwa Securities Group Inc. bought a new position in Rocket Companies in the fourth quarter worth approximately $136,000. Proficio Capital Partners LLC bought a new position in Rocket Companies in the fourth quarter worth approximately $154,000. Finally, Lakeshore Financial Planning Inc. increased its holdings in Rocket Companies by 21.7% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock worth $158,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors own 4.59% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RKT. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a research report on Wednesday, April 2nd. Morgan Stanley lowered their price target on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, December 19th. Wedbush reissued a "neutral" rating and set a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. Finally, UBS Group upgraded Rocket Companies from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $12.50 to $11.50 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.25.

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Rocket Companies Stock Down 2.6 %

RKT stock traded down $0.34 on Tuesday, hitting $12.52. 7,032,111 shares of the company's stock were exchanged, compared to its average volume of 4,502,690. The firm has a 50 day moving average price of $13.54 and a two-hundred day moving average price of $13.82. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The stock has a market cap of $24.98 billion, a P/E ratio of -78.22 and a beta of 2.35. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

Rocket Companies Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued 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 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.