Rocket Companies, Inc. (NYSE:RKT) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 3.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,520,074 shares of the company's stock after acquiring an additional 431,054 shares during the period. Vanguard Group Inc. owned 0.63% of Rocket Companies worth $140,976,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RKT. AXQ Capital LP lifted its position 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 buying an additional 81,695 shares during the last quarter. Quantbot Technologies LP boosted its stake in Rocket Companies by 76.9% in the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock valued at $3,049,000 after acquiring an additional 117,728 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Rocket Companies by 131.7% in the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock valued at $410,000 after acquiring an additional 20,706 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rocket Companies by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock worth $13,098,000 after purchasing an additional 122,534 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Rocket Companies in the 3rd quarter valued at about $1,486,000. Hedge funds and other institutional investors own 4.59% of the company's stock.

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Rocket Companies Price Performance

Shares of RKT traded down $0.02 during mid-day trading on Friday, hitting $11.86. The company's stock had a trading volume of 18,607,550 shares, compared to its average volume of 4,456,099. The firm has a 50-day simple moving average of $13.53 and a 200 day simple moving average of $13.90. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The firm has a market capitalization of $23.67 billion, a P/E ratio of -74.12 and a beta of 2.35. 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 Cuts Dividend

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

Analyst Ratings Changes

RKT has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price target on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday. UBS Group upgraded shares of Rocket Companies from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $10.00 to $14.00 in a research report on Tuesday. Finally, Morgan Stanley reduced their target price on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $14.25.

Rocket Companies 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.