Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 58.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 560,851 shares of the company’s stock after selling 775,684 shares during the quarter. Voya Investment Management LLC’s holdings in Rocket Companies were worth $6,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AXQ Capital LP boosted its position in shares of Rocket Companies by 125.7% during the fourth 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 period. Vanguard Group Inc. boosted its position in shares of Rocket Companies by 3.6% during 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 period. Quantbot Technologies LP boosted its position 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 buying an additional 117,728 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Companies by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock worth $13,098,000 after buying an additional 122,534 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock worth $52,980,000 after buying an additional 2,990,837 shares during the period. Institutional investors and hedge funds own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RKT. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods lifted their target price on Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, April 2nd. UBS Group decreased their target price on Rocket Companies from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.38.

Rocket Companies Stock Up 2.6 %

RKT opened at $12.94 on Wednesday. The business’s 50-day simple moving average is $13.43 and its 200-day simple moving average is $13.42. 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, Inc. has a one year low of $10.06 and a one year high of $21.38. The stock has a market capitalization of $25.83 billion, a P/E ratio of -80.88 and a beta of 2.35.

Rocket Companies Cuts Dividend

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