Daiwa Securities Group Inc. Invests $136,000 in Rocket Companies, Inc. (NYSE:RKT)

Daiwa Securities Group Inc. purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,065 shares of the company’s stock, valued at approximately $136,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV grew its holdings in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Rocket Companies in the fourth quarter valued at approximately $135,000. Proficio Capital Partners LLC bought a new stake in Rocket Companies in the fourth quarter valued at approximately $154,000. V Square Quantitative Management LLC boosted its holdings in Rocket Companies by 130.2% in the fourth quarter. V Square Quantitative Management LLC now owns 14,371 shares of the company’s stock valued at $162,000 after acquiring an additional 8,127 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Rocket Companies in the third quarter valued at approximately $223,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $14.86 on Monday. 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, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The stock’s 50 day moving average is $12.70 and its 200-day moving average is $14.74. The firm has a market capitalization of $29.65 billion, a price-to-earnings ratio of -92.84 and a beta of 2.39.

Rocket Companies Cuts Dividend

The company also recently announced 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 payout ratio is 801.25%.

Analyst Ratings Changes

RKT has been the topic of several analyst reports. 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. UBS Group upgraded Rocket Companies from a “sell” rating to a “neutral” rating and reduced their target price for the company from $12.50 to $11.50 in a report on Friday, January 10th. Morgan Stanley reduced their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their price target on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.83.

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.