Amundi Sells 219,911 Shares of Rocket Companies, Inc. (NYSE:RKT)

Amundi cut its stake in Rocket Companies, Inc. (NYSE:RKT) by 87.2% in the fourth quarter, HoldingsChannel reports. The fund owned 32,419 shares of the company’s stock after selling 219,911 shares during the period. Amundi’s holdings in Rocket Companies were worth $339,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. KBC Group NV raised its stake 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 buying an additional 2,226 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Rocket Companies during the fourth quarter worth approximately $135,000. Proficio Capital Partners LLC bought a new stake in shares of Rocket Companies during the fourth quarter worth approximately $154,000. V Square Quantitative Management LLC raised its stake in shares of Rocket Companies by 130.2% during the fourth quarter. V Square Quantitative Management LLC now owns 14,371 shares of the company’s stock worth $162,000 after buying an additional 8,127 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Rocket Companies during the third quarter worth approximately $235,000. 4.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on RKT. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group dropped their price target on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. Finally, Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.83.

Rocket Companies Stock Down 1.7 %

Rocket Companies stock opened at $14.10 on Friday. The stock has a market capitalization of $28.14 billion, a PE ratio of -88.09 and a beta of 2.39. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month 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. The company has a 50 day moving average of $13.14 and a 200-day moving average of $14.64.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a $0.80 dividend. The ex-dividend date is Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

Rocket Companies 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.