Patriot Financial Group Insurance Agency LLC Sells 7,077 Shares of Rocket Companies, Inc. (NYSE:RKT)

Patriot Financial Group Insurance Agency LLC decreased its position in Rocket Companies, Inc. (NYSE:RKT) by 33.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,878 shares of the company’s stock after selling 7,077 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Rocket Companies were worth $266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank grew its position in shares of Rocket Companies by 4.1% in the first quarter. Swiss National Bank now owns 237,000 shares of the company’s stock valued at $3,448,000 after purchasing an additional 9,300 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Rocket Companies in the first quarter valued at approximately $2,698,000. Vanguard Group Inc. grew its position in shares of Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after purchasing an additional 1,101,325 shares during the last quarter. Boston Partners grew its position in shares of Rocket Companies by 4.2% in the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after purchasing an additional 381,841 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of Rocket Companies in the third quarter valued at approximately $196,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RKT. Royal Bank of Canada increased their price target on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their price target on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. UBS Group increased their price target on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company increased their price target on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and a consensus target price of $14.89.

Rocket Companies Trading Down 0.1 %

Shares of Rocket Companies stock opened at $16.31 on Wednesday. The firm’s 50 day moving average is $18.70 and its 200 day moving average is $16.00. The firm has a market capitalization of $32.45 billion, a PE ratio of 233.03 and a beta of 2.44. Rocket Companies, Inc. has a 1 year low of $7.20 and a 1 year high of $21.38. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Rocket Companies, Inc. will post 0.23 earnings per share for the current fiscal year.

About Rocket Companies

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.