Wellington Management Group LLP Raises Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Wellington Management Group LLP grew its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 174.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,705,177 shares of the company’s stock after acquiring an additional 2,990,837 shares during the quarter. Wellington Management Group LLP owned about 0.24% of Rocket Companies worth $52,980,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Boston Partners lifted its holdings in Rocket Companies by 29.8% in the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock valued at $138,673,000 after acquiring an additional 2,829,292 shares during the period. State Street Corp lifted its stake in shares of Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after purchasing an additional 1,269,795 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Rocket Companies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock worth $140,976,000 after buying an additional 431,054 shares during the last quarter. Bruni J V & Co. Co. boosted its holdings in shares of Rocket Companies by 21.2% in the fourth quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock worth $20,944,000 after buying an additional 324,976 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Rocket Companies during the fourth quarter valued at approximately $3,469,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $15.38 on Friday. The firm’s fifty day moving average is $13.49 and its two-hundred day moving average is $14.18. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The company has a market cap of $30.70 billion, a P/E ratio of -96.13 and a beta of 2.35. 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 Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s dividend payout ratio is currently 801.25%.

Wall Street Analysts Forecast Growth

RKT has been the topic of several analyst reports. UBS Group upgraded 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. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target on shares of Rocket Companies in a report on Tuesday, April 1st. Morgan Stanley decreased their price objective on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.08.

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.