Raymond James Financial Inc. Purchases 53,887 Shares of Rocket Companies, Inc. $RKT

Raymond James Financial Inc. increased its position in Rocket Companies, Inc. (NYSE:RKT) by 17.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,975 shares of the company’s stock after purchasing an additional 53,887 shares during the period. Raymond James Financial Inc.’s holdings in Rocket Companies were worth $4,369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RKT. Nuveen LLC bought a new position in shares of Rocket Companies in the first quarter worth approximately $96,470,000. Wellington Management Group LLP lifted its position in Rocket Companies by 174.5% in the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after acquiring an additional 2,990,837 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Rocket Companies by 52.7% in the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after acquiring an additional 2,804,090 shares in the last quarter. Boston Partners lifted its position in Rocket Companies by 11.3% in the 1st quarter. Boston Partners now owns 13,704,339 shares of the company’s stock valued at $165,421,000 after acquiring an additional 1,390,559 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Rocket Companies during the fourth quarter valued at $14,113,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Up 5.8%

Shares of Rocket Companies stock opened at $20.26 on Friday. The company’s fifty day simple moving average is $16.33 and its 200-day simple moving average is $14.30. The stock has a market capitalization of $42.63 billion, a PE ratio of -405.14 and a beta of 2.30. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, July 31st. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.06 EPS. Rocket Companies’s revenue for the quarter was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RKT. Keefe, Bruyette & Woods upped their price target on Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, August 5th. UBS Group set a $16.00 target price on shares of Rocket Companies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Morgan Stanley started coverage on shares of Rocket Companies in a research report on Thursday, August 14th. They set an “equal weight” rating and a $16.00 price objective on the stock. BTIG Research upgraded shares of Rocket Companies to a “strong-buy” rating in a research report on Tuesday, August 19th. Finally, Wedbush restated a “neutral” rating and set a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Rocket Companies has an average rating of “Hold” and an average target price of $15.81.

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.