Rocket Companies, Inc. (NYSE:RKT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in Rocket Companies, Inc. (NYSE:RKT) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 468,620 shares of the company’s stock after purchasing an additional 132,453 shares during the period. Bank of New York Mellon Corp’s holdings in Rocket Companies were worth $5,277,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp raised its position in shares of Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after buying an additional 1,269,795 shares during the last quarter. Tidal Investments LLC boosted its position in Rocket Companies by 804.3% during the third quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock worth $6,060,000 after acquiring an additional 280,847 shares during the last quarter. Lincoln Capital Corp purchased a new stake in Rocket Companies in the 4th quarter worth approximately $1,831,000. National Bank of Canada FI raised its holdings in Rocket Companies by 6,932.4% in the 3rd quarter. National Bank of Canada FI now owns 145,922 shares of the company’s stock valued at $2,800,000 after acquiring an additional 143,847 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in shares of Rocket Companies by 130.3% during the 3rd quarter. PDT Partners LLC now owns 253,936 shares of the company’s stock worth $4,873,000 after purchasing an additional 143,664 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Up 5.7 %

Shares of Rocket Companies stock opened at $15.71 on Tuesday. The company has a fifty day moving average price of $12.80 and a 200 day moving average price of $14.71. 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, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The stock has a market cap of $31.37 billion, a price-to-earnings ratio of -98.21 and a beta of 2.39.

Rocket Companies Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RKT shares. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, March 5th. The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $12.50 to $11.50 in a research note on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley lowered 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. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.83.

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.