Northern Trust Corp Grows Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Northern Trust Corp increased its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 618,703 shares of the company's stock after purchasing an additional 46,291 shares during the quarter. Northern Trust Corp's holdings in Rocket Companies were worth $6,967,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. KBC Group NV grew its position in Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after acquiring an additional 2,226 shares during the last quarter. Sterling Capital Management LLC grew its position in Rocket Companies by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after acquiring an additional 3,019 shares during the last quarter. Caisse Des Depots ET Consignations bought a new position in Rocket Companies in the 4th quarter valued at $99,000. Garner Asset Management Corp bought a new position in Rocket Companies in the 4th quarter valued at $118,000. Finally, Huntington National Bank grew its position in Rocket Companies by 548,750.0% in the 4th 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 during the last quarter. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Up 1.0%

Shares of NYSE RKT traded up $0.12 during mid-day trading on Friday, reaching $12.69. 5,883,667 shares of the company were exchanged, compared to its average volume of 5,621,386. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a market cap of $25.38 billion, a price-to-earnings ratio of -79.32 and a beta of 2.33. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38. The firm has a 50-day moving average of $12.79 and a 200 day moving average of $12.85.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the business posted $0.04 EPS. The firm's quarterly revenue was down 10.8% on a year-over-year basis. On average, research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Rocket Companies Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is presently -4,273.33%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RKT shares. UBS Group dropped their price target on Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price target on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a research report on Monday, May 12th. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 price target on shares of Rocket Companies in a research report on Tuesday, April 1st. Finally, Wedbush reissued a "neutral" rating and set a $12.00 price target (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Companies currently has an average rating of "Hold" and an average price target of $14.13.

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.