Principal Financial Group Inc. Purchases Shares of 10,324 Rocket Companies, Inc. (NYSE:RKT)

Principal Financial Group Inc. acquired a new stake in Rocket Companies, Inc. (NYSE:RKTFree Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,324 shares of the company’s stock, valued at approximately $150,000.

A number of other hedge funds have also recently made changes to their positions in the business. Principal Securities Inc. bought a new position in Rocket Companies during the 4th quarter valued at $26,000. Vima LLC bought a new stake in Rocket Companies in the 4th quarter worth about $31,000. Tennessee Valley Asset Management Partners purchased a new stake in Rocket Companies in the 4th quarter valued at about $37,000. Westpac Banking Corp lifted its position in shares of Rocket Companies by 61.8% during the 4th quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock worth $86,000 after buying an additional 2,264 shares in the last quarter. Finally, Wedmont Private Capital purchased a new position in shares of Rocket Companies in the 1st quarter worth approximately $154,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $13.27 on Tuesday. 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 fifty-two week low of $7.17 and a fifty-two week high of $15.81. The stock has a market cap of $26.39 billion, a PE ratio of 120.65 and a beta of 2.43. The stock has a fifty day moving average of $13.96 and a 200-day moving average of $13.10.

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

Analyst Ratings Changes

A number of analysts recently commented on RKT shares. Bank of America lifted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th. Piper Sandler boosted their price target on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of Rocket Companies from $11.00 to $13.50 and gave the stock an “underweight” rating in a report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Friday, May 3rd. Finally, Royal Bank of Canada increased their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Six investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.79.

Check Out Our Latest Stock Analysis on RKT

Rocket Companies Profile

(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.

See Also

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

Receive News & Ratings for Rocket Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Companies and related companies with MarketBeat.com's FREE daily email newsletter.