Vanguard Group Inc. Purchases 431,054 Shares of Rocket Companies, Inc. (NYSE:RKT)

Vanguard Group Inc. boosted its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,520,074 shares of the company’s stock after purchasing an additional 431,054 shares during the quarter. Vanguard Group Inc.’s holdings in Rocket Companies were worth $140,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners grew its position in shares of Rocket Companies by 29.8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company’s stock worth $138,673,000 after buying an additional 2,829,292 shares in the last quarter. State Street Corp lifted its stake in Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after acquiring an additional 1,269,795 shares during the period. Geode Capital Management LLC grew its holdings in Rocket Companies by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock worth $39,235,000 after acquiring an additional 12,735 shares in the last quarter. Bruni J V & Co. Co. increased its position in Rocket Companies by 21.2% during the 4th quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock valued at $20,944,000 after purchasing an additional 324,976 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rocket Companies by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock valued at $13,098,000 after purchasing an additional 122,534 shares in the last quarter. 4.59% of the stock is owned by institutional investors.

Rocket Companies Trading Down 5.1 %

NYSE:RKT opened at $14.62 on Tuesday. The company has a market capitalization of $29.17 billion, a P/E ratio of -91.34 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, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38. The firm has a fifty day simple moving average of $13.53 and a 200-day simple moving average of $14.11.

Rocket Companies Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RKT. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday, April 1st. The Goldman Sachs Group dropped their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Rocket Companies has an average rating of “Hold” and an average target price of $14.08.

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.