Virtu Financial LLC Grows Position in Rocket Companies, Inc. (NYSE:RKT)

Virtu Financial LLC increased its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 76.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,422 shares of the company’s stock after acquiring an additional 12,287 shares during the quarter. Virtu Financial LLC’s holdings in Rocket Companies were worth $320,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Boston Partners raised its holdings in shares of Rocket Companies by 29.8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company’s stock worth $138,673,000 after acquiring an additional 2,829,292 shares in the last quarter. State Street Corp raised its stake in Rocket Companies by 44.7% during the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after purchasing an additional 1,269,795 shares in the last quarter. Bruni J V & Co. Co. raised its stake in Rocket Companies by 21.2% during the fourth quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock valued at $20,944,000 after purchasing an additional 324,976 shares in the last quarter. Raymond James Financial Inc. bought a new position in Rocket Companies during the fourth quarter valued at $3,469,000. Finally, Tidal Investments LLC increased its holdings in shares of Rocket Companies by 804.3% in the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock worth $6,060,000 after buying an additional 280,847 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Trading Down 0.6 %

Shares of RKT opened at $13.14 on Friday. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The firm has a market capitalization of $26.22 billion, a P/E ratio of -82.09 and a beta of 2.39. The firm has a 50-day moving average price of $13.31 and a 200 day moving average price of $14.47. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies Cuts Dividend

The business also recently announced 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 dividend payout ratio (DPR) is presently 801.25%.

Analysts Set New Price Targets

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