MFG Wealth Management Inc. Has $2.52 Million Stock Position in Rocket Companies, Inc. $RKT

Key Points

• MFG Wealth Management Inc. increased its stake in Rocket Companies, Inc. by 37.6%, now holding 177,762 shares worth approximately $2.52 million.
• Institutional investors collectively own 4.59% of Rocket Companies' stock, with notable increases from Bank of New York Mellon Corp and Charles Schwab Investment Management Inc. in their holdings.
• Rocket Companies reported a quarterly earnings per share (EPS) of $0.04, exceeding the consensus estimate, and anticipates an EPS of $0.15 for the current fiscal year.

MFG Wealth Management Inc. lifted its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 37.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 177,762 shares of the company's stock after acquiring an additional 48,560 shares during the quarter. Rocket Companies makes up approximately 2.1% of MFG Wealth Management Inc.'s investment portfolio, making the stock its 25th largest position. MFG Wealth Management Inc.'s holdings in Rocket Companies were worth $2,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Rocket Companies by 148.3% in the first quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company's stock valued at $14,042,000 after acquiring an additional 694,779 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rocket Companies by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company's stock valued at $15,285,000 after acquiring an additional 103,156 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Rocket Companies in the first quarter valued at about $310,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Rocket Companies in the first quarter valued at about $281,000. Finally, Wellington Management Group LLP increased its position in shares of Rocket Companies by 1.5% in the first quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company's stock valued at $57,626,000 after acquiring an additional 69,147 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Trading Up 0.1%

Shares of NYSE:RKT opened at $21.12 on Tuesday. The company has a market capitalization of $44.45 billion, a P/E ratio of -422.40 and a beta of 2.29. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74. The business's 50 day simple moving average is $17.13 and its 200 day simple moving average is $14.63.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RKT shares. Morgan Stanley began coverage on Rocket Companies in a research report on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 target price on the stock. The Goldman Sachs Group boosted their price target on Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price target on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 5th. Bank of America raised Rocket Companies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $21.00 to $24.00 in a research report on Wednesday, September 10th. Finally, UBS Group set a $16.00 price target on Rocket Companies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $16.50.

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.

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