Boston Partners Acquires 2,829,292 Shares of Rocket Companies, Inc. (NYSE:RKT)

Boston Partners increased its holdings in Rocket Companies, Inc. (NYSE:RKT) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,313,780 shares of the company’s stock after purchasing an additional 2,829,292 shares during the period. Boston Partners’ holdings in Rocket Companies were worth $138,673,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its holdings in Rocket Companies by 9.0% in the fourth quarter. First Eagle Investment Management LLC now owns 60,740 shares of the company’s stock worth $684,000 after purchasing an additional 5,000 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Rocket Companies by 27.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 143,987 shares of the company’s stock worth $1,621,000 after purchasing an additional 31,111 shares in the last quarter. Swiss National Bank boosted its holdings in Rocket Companies by 1.3% in the fourth quarter. Swiss National Bank now owns 248,900 shares of the company’s stock worth $2,803,000 after purchasing an additional 3,200 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Rocket Companies in the fourth quarter worth $136,000. Finally, Raymond James Financial Inc. bought a new stake in Rocket Companies in the fourth quarter worth $3,469,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Down 2.5 %

Shares of RKT opened at $15.31 on Wednesday. The company has a 50-day simple moving average of $12.89 and a 200-day simple moving average of $14.68. The firm has a market capitalization of $30.56 billion, a P/E ratio of -95.69 and a beta of 2.39. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38.

Rocket Companies Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RKT. The Goldman Sachs Group decreased their price target on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $12.50 to $11.50 in a report on Friday, January 10th. Morgan Stanley decreased their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods upped their price target 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.