Raymond James Financial Inc. Boosts Stock Holdings in Rocket Companies, Inc. $RKT

Raymond James Financial Inc. raised its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 17.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,975 shares of the company’s stock after buying 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 institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Rocket Companies by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 247,778 shares of the company’s stock valued at $2,790,000 after acquiring an additional 18,169 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Rocket Companies by 8.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,613 shares of the company’s stock valued at $919,000 after acquiring an additional 6,622 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Rocket Companies by 9.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company’s stock valued at $313,000 after purchasing an additional 2,437 shares during the period. Northern Trust Corp boosted its stake in shares of Rocket Companies by 8.1% during the fourth quarter. Northern Trust Corp now owns 618,703 shares of the company’s stock valued at $6,967,000 after purchasing an additional 46,291 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Rocket Companies by 29.6% during the fourth quarter. Ameriprise Financial Inc. now owns 20,598 shares of the company’s stock valued at $232,000 after purchasing an additional 4,708 shares during the period. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Trading Up 5.8%

NYSE RKT opened at $20.26 on Friday. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The firm has a market capitalization of $42.63 billion, a PE ratio of -405.14 and a beta of 2.30. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock’s 50 day moving average is $16.33 and its 200 day moving average is $14.30.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RKT. BTIG Research raised shares of Rocket Companies to a “strong-buy” rating in a research report on Tuesday, August 19th. UBS Group set a $16.00 price target on shares of Rocket Companies and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Wedbush reiterated a “neutral” rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. The Goldman Sachs Group increased their target price on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group increased their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a “hold” rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.81.

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.