First Eagle Investment Management LLC Raises Stake in Rocket Companies, Inc. (NYSE:RKT)

First Eagle Investment Management LLC increased its stake in Rocket Companies, Inc. (NYSE:RKT) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,740 shares of the company’s stock after buying an additional 5,000 shares during the period. First Eagle Investment Management LLC’s holdings in Rocket Companies were worth $684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RKT. Commonwealth Equity Services LLC increased its position in shares of Rocket Companies by 27.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 143,987 shares of the company’s stock worth $1,621,000 after acquiring an additional 31,111 shares during the period. Swiss National Bank increased its holdings in Rocket Companies by 1.3% during the 4th 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 during the period. Daiwa Securities Group Inc. bought a new stake in Rocket Companies during the 4th quarter valued at $136,000. Raymond James Financial Inc. purchased a new stake in shares of Rocket Companies in the 4th quarter worth $3,469,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Rocket Companies in the 4th quarter worth $154,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

RKT has been the subject of several recent research reports. Morgan Stanley decreased their price objective on 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 reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods lifted 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. JPMorgan Chase & Co. lowered their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group cut their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $14.86 on Monday. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. 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 company has a market cap of $29.65 billion, a PE ratio of -92.84 and a beta of 2.39. The business has a 50-day simple moving average of $12.70 and a two-hundred day simple moving average of $14.74.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid 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%.

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.