PNC Financial Services Group Inc. Lowers Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

PNC Financial Services Group Inc. cut its stake in shares of Rocket Companies, Inc. (NYSE:RKTFree Report) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,196 shares of the company’s stock after selling 948 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rocket Companies were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Affirmative Financial Network increased its holdings in Rocket Companies by 18.0% during the 4th quarter. First Affirmative Financial Network now owns 13,450 shares of the company’s stock worth $195,000 after purchasing an additional 2,052 shares during the period. DMC Group LLC raised its holdings in shares of Rocket Companies by 32.6% in the fourth quarter. DMC Group LLC now owns 28,048 shares of the company’s stock valued at $406,000 after acquiring an additional 6,903 shares in the last quarter. Raymond James & Associates lifted its stake in Rocket Companies by 6.4% in the fourth quarter. Raymond James & Associates now owns 172,308 shares of the company’s stock worth $2,495,000 after acquiring an additional 10,314 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Rocket Companies during the 4th quarter worth about $179,000. Finally, Global Retirement Partners LLC increased its position in Rocket Companies by 7.5% during the 4th quarter. Global Retirement Partners LLC now owns 70,830 shares of the company’s stock valued at $1,026,000 after purchasing an additional 4,917 shares during the period. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of RKT opened at $13.93 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 12.83 and a current ratio of 12.83. Rocket Companies, Inc. has a one year low of $7.17 and a one year high of $15.81. The stock has a market cap of $27.70 billion, a P/E ratio of 126.65 and a beta of 2.43. The stock has a 50-day moving average of $13.94 and a two-hundred day moving average of $13.11.

Rocket Companies (NYSE:RKTGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.02 billion. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. As a group, research analysts predict that Rocket Companies, Inc. will post 0.24 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RKT shares. JPMorgan Chase & Co. upped their price target on shares of Rocket Companies from $10.50 to $11.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their target price on Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Bank of America boosted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, March 18th. Piper Sandler raised their price objective on Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Wedbush reiterated a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a report on Friday, May 3rd. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.60.

Read Our Latest Report on Rocket Companies

About Rocket Companies

(Free Report)

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.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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