Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Rocket Companies, Inc. (NYSE:RKT)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 64.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,433 shares of the company’s stock after buying an additional 7,588 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Rocket Companies were worth $213,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. KBC Group NV raised its stake in shares of Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares during the period. SBI Securities Co. Ltd. bought a new stake in Rocket Companies during the 4th quarter worth approximately $135,000. Daiwa Securities Group Inc. purchased a new position in Rocket Companies during the fourth quarter valued at approximately $136,000. Townsquare Capital LLC bought a new position in shares of Rocket Companies in the third quarter worth approximately $238,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Rocket Companies in the fourth quarter worth $154,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

RKT has been the subject of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Rocket Companies in a research note on Tuesday. Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, March 5th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $12.50 to $11.50 in a report on Friday, January 10th. The Goldman Sachs Group reduced their price target on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued 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 an average rating of “Hold” and an average price target of $14.08.

Rocket Companies Stock Down 0.3 %

NYSE RKT opened at $13.82 on Friday. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The firm has a market capitalization of $27.58 billion, a price-to-earnings ratio of -86.36 and a beta of 2.39. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a fifty day moving average of $13.42 and a two-hundred day moving average of $14.26.

Rocket Companies Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is currently 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.