National Bank of Canada FI Trims Position in Rocket Companies, Inc. (NYSE:RKT)

National Bank of Canada FI reduced its position in Rocket Companies, Inc. (NYSE:RKT) by 98.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,322 shares of the company’s stock after selling 143,600 shares during the period. National Bank of Canada FI’s holdings in Rocket Companies were worth $26,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after acquiring an additional 2,226 shares during the period. Lakeshore Financial Planning Inc. increased its position in Rocket Companies by 21.7% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company’s stock worth $158,000 after purchasing an additional 2,500 shares during the last quarter. Truist Financial Corp raised its stake in Rocket Companies by 12.6% during the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company’s stock worth $263,000 after purchasing an additional 2,621 shares during the period. Virtu Financial LLC boosted its holdings in shares of Rocket Companies by 22.1% in the 3rd quarter. Virtu Financial LLC now owns 16,135 shares of the company’s stock valued at $310,000 after purchasing an additional 2,925 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Rocket Companies by 1.3% during the 4th quarter. Swiss National Bank now owns 248,900 shares of the company’s stock valued at $2,803,000 after buying an additional 3,200 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RKT shares. The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley reduced their price objective on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, April 2nd. Wedbush reaffirmed a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Rocket Companies has an average rating of “Hold” and a consensus target price of $14.25.

Rocket Companies Stock Performance

NYSE:RKT opened at $11.86 on Monday. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The stock has a market cap of $23.67 billion, a P/E ratio of -74.12 and a beta of 2.35. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm has a 50-day moving average of $13.53 and a two-hundred day moving average of $13.87.

Rocket Companies Cuts Dividend

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

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.