Wellington Management Group LLP Increases Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Wellington Management Group LLP increased its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 174.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,705,177 shares of the company's stock after buying an additional 2,990,837 shares during the period. Wellington Management Group LLP owned about 0.24% of Rocket Companies worth $52,980,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. KBC Group NV boosted its holdings in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after purchasing an additional 2,226 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new position in Rocket Companies in the fourth quarter valued at approximately $99,000. SBI Securities Co. Ltd. acquired a new position in Rocket Companies in the fourth quarter valued at approximately $135,000. Daiwa Securities Group Inc. acquired a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $136,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Rocket Companies in the third quarter valued at approximately $238,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RKT. JPMorgan Chase & Co. decreased their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Wedbush reissued a "neutral" rating and issued a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. 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. The Goldman Sachs Group decreased their price objective on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Rocket Companies currently has an average rating of "Hold" and an average price target of $14.25.

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Rocket Companies Price Performance

NYSE:RKT traded down $0.89 during trading hours on Thursday, hitting $11.86. The company's stock had a trading volume of 3,544,879 shares, compared to its average volume of 4,348,661. The business's 50-day moving average is $13.54 and its two-hundred day moving average is $14.00. The company has a market capitalization of $23.67 billion, a PE ratio of -74.41 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, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38.

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is 801.25%.

Rocket Companies Company 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.