Commonwealth Equity Services LLC Boosts Stake in Rocket Companies, Inc. (NYSE:RKT)

Commonwealth Equity Services LLC lifted its position in Rocket Companies, Inc. (NYSE:RKT) by 27.6% in the 4th quarter, Holdings Channel reports. The fund owned 143,987 shares of the company’s stock after acquiring an additional 31,111 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Rocket Companies were worth $1,621,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. KBC Group NV boosted its holdings in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after acquiring an additional 2,226 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Rocket Companies in the 4th quarter worth $135,000. Daiwa Securities Group Inc. purchased a new position in shares of Rocket Companies in the fourth quarter worth $136,000. Kingsview Wealth Management LLC purchased a new stake in shares of Rocket Companies during the 3rd quarter valued at about $235,000. Finally, Townsquare Capital LLC bought a new stake in shares of Rocket Companies in the third quarter worth approximately $238,000. Institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of 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 lowered 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. 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. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $12.50 to $11.50 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $13.03 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The firm has a market cap of $26.00 billion, a price-to-earnings ratio of -81.41 and a beta of 2.39. The firm has a fifty day moving average price of $13.33 and a 200 day moving average price of $14.39. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s dividend payout ratio 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.