Lakeshore Financial Planning Inc. Buys 2,500 Shares of Rocket Companies, Inc. (NYSE:RKT)

Lakeshore Financial Planning Inc. lifted its stake in Rocket Companies, Inc. (NYSE:RKT) by 21.7% during the 4th quarter, Holdings Channel reports. The firm owned 13,996 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Lakeshore Financial Planning Inc.’s holdings in Rocket Companies were worth $158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV lifted its holdings in 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 acquiring an additional 2,226 shares in the last quarter. Truist Financial Corp lifted its holdings in Rocket Companies by 12.6% during the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company’s stock worth $263,000 after acquiring an additional 2,621 shares in the last quarter. Virtu Financial LLC lifted its holdings in Rocket Companies by 22.1% during the third quarter. Virtu Financial LLC now owns 16,135 shares of the company’s stock worth $310,000 after acquiring an additional 2,925 shares in the last quarter. Swiss National Bank lifted its holdings in Rocket Companies by 1.3% during the fourth quarter. Swiss National Bank now owns 248,900 shares of the company’s stock worth $2,803,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Rocket Companies by 2.3% during the third quarter. Quantinno Capital Management LP now owns 153,564 shares of the company’s stock worth $2,947,000 after acquiring an additional 3,402 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Price Performance

NYSE:RKT opened at $14.34 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 stock’s 50-day simple moving average is $13.06 and its 200 day simple moving average is $14.68. The company has a market cap of $28.62 billion, a P/E ratio of -89.62 and a beta of 2.39. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38.

Rocket Companies Cuts Dividend

The business also recently announced 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 is currently 801.25%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RKT shares. Wedbush reiterated a “neutral” rating and set a $13.00 target price on shares of Rocket Companies in a report on Wednesday, March 5th. The Goldman Sachs Group dropped their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price target for the company from $12.50 to $11.50 in a research note on Friday, January 10th. Finally, Morgan Stanley dropped their price target 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. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.