Caisse Des Depots ET Consignations Makes New $99,000 Investment in Rocket Companies, Inc. (NYSE:RKT)

Caisse Des Depots ET Consignations purchased a new position in Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,807 shares of the company’s stock, valued at approximately $99,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in RKT. AXQ Capital LP lifted its position in Rocket Companies by 125.7% in the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company’s stock worth $1,652,000 after buying an additional 81,695 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Rocket Companies by 76.9% during the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company’s stock worth $3,049,000 after acquiring an additional 117,728 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Rocket Companies by 131.7% in the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock worth $410,000 after acquiring an additional 20,706 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Companies by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock valued at $13,098,000 after purchasing an additional 122,534 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Rocket Companies in the 3rd quarter valued at $1,486,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wedbush reiterated a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their target price on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. UBS Group upgraded Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Finally, The Goldman Sachs Group lowered their price objective on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.83.

Rocket Companies Stock Performance

Shares of RKT stock opened at $13.03 on Friday. The firm has a market capitalization of $26.00 billion, a price-to-earnings ratio of -81.41 and a beta of 2.39. The stock has a fifty day moving average of $13.33 and a 200 day moving average of $14.42. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a quick ratio of 15.47, a current 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. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.80 per share. The ex-dividend date 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.