Rocket Companies, Inc. (NYSE:RKT) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,990 shares of the company's stock after selling 64,216 shares during the quarter. Canada Pension Plan Investment Board's holdings in Rocket Companies were worth $1,261,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. KBC Group NV grew its stake in Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after purchasing an additional 2,226 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock worth $93,000 after buying an additional 3,019 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new stake in shares of Rocket Companies during the fourth quarter worth approximately $99,000. Garner Asset Management Corp bought a new stake in shares of Rocket Companies in the fourth quarter worth $118,000. Finally, Huntington National Bank raised its holdings in Rocket Companies by 548,750.0% in the fourth quarter. Huntington National Bank now owns 10,977 shares of the company's stock valued at $124,000 after acquiring an additional 10,975 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RKT shares. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Wedbush reiterated an "outperform" rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods upped their price objective on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, April 8th. Barclays upgraded Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Finally, 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 report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Rocket Companies has an average rating of "Hold" and an average price target of $14.38.

Rocket Companies Stock Performance

NYSE:RKT traded down $0.06 during mid-day trading on Wednesday, hitting $12.88. The stock had a trading volume of 5,879,662 shares, compared to its average volume of 4,791,254. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $13.42. The stock has a market capitalization of $25.71 billion, a price-to-earnings ratio of -80.50 and a beta of 2.35. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38.

Rocket Companies Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued 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 presently 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.