Rocket Companies, Inc. (NYSE:RKT) Shares Acquired by Swiss National Bank

Swiss National Bank boosted its holdings in Rocket Companies, Inc. (NYSE:RKT) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,900 shares of the company’s stock after purchasing an additional 3,200 shares during the quarter. Swiss National Bank’s holdings in Rocket Companies were worth $2,803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of Rocket Companies by 131.7% during the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock valued at $410,000 after buying an additional 20,706 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rocket Companies by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock valued at $13,098,000 after acquiring an additional 122,534 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Rocket Companies by 324.4% during the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after purchasing an additional 51,336 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Rocket Companies in the 3rd quarter worth approximately $1,486,000. Finally, Quadrature Capital Ltd acquired a new position in Rocket Companies during the 3rd quarter valued at approximately $1,071,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Trading Down 1.3 %

Shares of RKT stock opened at $13.21 on Thursday. The stock has a 50-day simple moving average of $13.28 and a 200 day simple moving average of $14.48. The stock has a market capitalization of $26.36 billion, a P/E ratio of -82.53 and a beta of 2.39. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is 801.25%.

Analyst Ratings Changes

Several equities research analysts have weighed in on RKT shares. Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a research report on Wednesday, March 5th. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and cut their price objective for the company from $12.50 to $11.50 in a research report on Friday, January 10th. JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price target on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. Finally, Morgan Stanley lowered their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.83.

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.