Teacher Retirement System of Texas Invests $415,000 in Rocket Companies, Inc. (NYSE:RKT)

Teacher Retirement System of Texas purchased a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,865 shares of the company's stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RKT. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after purchasing an additional 2,226 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Rocket Companies during the fourth quarter valued at about $135,000. Daiwa Securities Group Inc. bought a new stake in shares of Rocket Companies during the fourth quarter worth about $136,000. Proficio Capital Partners LLC acquired a new stake in shares of Rocket Companies in the 4th quarter worth about $154,000. Finally, V Square Quantitative Management LLC raised its holdings in shares of Rocket Companies by 130.2% in the 4th quarter. V Square Quantitative Management LLC now owns 14,371 shares of the company's stock worth $162,000 after acquiring an additional 8,127 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

RKT has been the subject of a number of analyst reports. UBS Group raised Rocket Companies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $12.50 to $11.50 in a research report on Friday, January 10th. The Goldman Sachs Group dropped their price target on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Wedbush reiterated 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. dropped their target price on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods raised Rocket Companies from an "underperform" rating to a "market perform" rating and increased their price target for the company from $12.00 to $14.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.08.

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Rocket Companies Stock Performance

Rocket Companies stock traded down $0.04 during mid-day trading on Thursday, reaching $13.82. The company's stock had a trading volume of 16,584,121 shares, compared to its average volume of 3,967,770. 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, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a market capitalization of $27.58 billion, a P/E ratio of -86.36 and a beta of 2.39. The firm's fifty day moving average price is $13.39 and its two-hundred day moving average price is $14.27.

Rocket Companies Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders 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 payout ratio is 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.