Rocket Companies, Inc. (NYSE:RKT) Position Raised by Boston Partners

Boston Partners increased its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 29.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,313,780 shares of the company’s stock after purchasing an additional 2,829,292 shares during the period. Boston Partners owned 0.62% of Rocket Companies worth $138,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RKT. State of New Jersey Common Pension Fund D bought a new stake in Rocket Companies during the third quarter worth approximately $1,832,000. Victory Capital Management Inc. increased its holdings in shares of Rocket Companies by 324.4% in the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after buying an additional 51,336 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rocket Companies by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock valued at $19,971,000 after buying an additional 72,308 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Rocket Companies by 85.1% in the third quarter. Cerity Partners LLC now owns 31,190 shares of the company’s stock valued at $599,000 after buying an additional 14,340 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in shares of Rocket Companies in the third quarter valued at $235,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 2.5 %

Rocket Companies stock opened at $15.31 on Wednesday. The company’s fifty day simple moving average is $12.89 and its 200-day simple moving average is $14.68. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. 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 $30.56 billion, a P/E ratio of -95.69 and a beta of 2.39.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s dividend payout ratio is currently 801.25%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price target on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price target for the company from $12.50 to $11.50 in a report on Friday, January 10th. Finally, The Goldman Sachs Group cut their target price on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.83.

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.