Assenagon Asset Management S.A. Invests $74.87 Million in Rocket Companies, Inc. $RKT

Key Points

• Assenagon Asset Management acquired 4.75 million Rocket Companies shares worth approximately $74.9 million, giving it a 0.17% stake. Institutional investors collectively own 4.59% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $19.87, despite several firms recently lowering their targets.
• Rocket reported second-quarter revenue of $2.76 billion, up 91.9% year over year, while EPS of $0.16 matched expectations. Management cited mortgage-market-share gains and AI-driven efficiency, though broader housing weakness remains a risk.

Assenagon Asset Management S.A. acquired a new position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,753,928 shares of the company's stock, valued at approximately $74,874,000. Assenagon Asset Management S.A. owned about 0.17% of Rocket Companies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC raised its holdings in Rocket Companies by 368.6% in the second quarter. CoreCap Advisors LLC now owns 7,230 shares of the company's stock worth $114,000 after purchasing an additional 5,687 shares in the last quarter. Hilltop National Bank boosted its holdings in shares of Rocket Companies by 44,581.8% in the 2nd quarter. Hilltop National Bank now owns 4,915 shares of the company's stock valued at $77,000 after buying an additional 4,904 shares in the last quarter. CX Institutional grew its position in shares of Rocket Companies by 7.8% in the 2nd quarter. CX Institutional now owns 132,700 shares of the company's stock worth $2,090,000 after buying an additional 9,605 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Rocket Companies by 96.0% during the 1st quarter. NewEdge Advisors LLC now owns 44,434 shares of the company's stock worth $633,000 after acquiring an additional 21,765 shares in the last quarter. Finally, Carlson Capital L.P. purchased a new stake in Rocket Companies during the first quarter valued at approximately $534,000. Hedge funds and other institutional investors own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

RKT has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Rocket Companies from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $18.00 to $19.00 in a research note on Thursday, July 16th. Barclays reduced their price target on Rocket Companies from $19.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods lowered their price objective on Rocket Companies from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Stephens lowered their price objective on Rocket Companies from $22.50 to $20.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on Rocket Companies from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Rocket Companies has a consensus rating of "Moderate Buy" and an average target price of $19.87.

Rocket Companies Stock Up 3.1%

Rocket Companies stock opened at $13.63 on Friday. The firm has a market cap of $38.57 billion, a price-to-earnings ratio of 97.36 and a beta of 2.19. Rocket Companies, Inc. has a 52 week low of $12.17 and a 52 week high of $24.36. The business's 50-day moving average price is $14.00 and its 200 day moving average price is $15.47. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 1.13.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. Rocket Companies had a return on equity of 5.50% and a net margin of 4.70%.The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the company posted $0.04 earnings per share. Rocket Companies's revenue for the quarter was up 91.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Rocket Companies, Inc. will post 0.54 earnings per share for the current year.

Key Headlines Impacting Rocket Companies

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: Rocket reported second-quarter adjusted revenue of $2.76 billion and GAAP net income of $229 million, while adjusted net income reached $441 million. Earnings of $0.16 per share matched expectations and improved from $0.04 a year earlier. Rocket Companies Announces Second Quarter 2026 Results
• Positive Sentiment: Management highlighted record mortgage-market-share gains and greater efficiency from artificial intelligence, which helped offset weakness in the broader housing market. Revenue increased approximately 92% year over year. RKT Q2 Earnings Match, Revenues Miss Amid Housing Weakness

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company's core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.

Want to see what other hedge funds are holding RKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Companies, Inc. (NYSE:RKT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source