Patriot Financial Group Insurance Agency LLC Acquires Shares of 24,032 Rocket Companies, Inc. $RKT

Key Points

• Patriot Financial Group Insurance Agency LLC acquired 24,032 shares of Rocket Companies, Inc. ($RKT), valued at approximately $341,000, during the second quarter.
• Several institutional investors, including Nuveen LLC and Boston Partners, have also significantly increased their stakes in Rocket Companies in recent months.
• Wall Street analysts have mixed ratings for Rocket Companies, with a consensus rating of "Hold" and an average price target of $16.65.

Patriot Financial Group Insurance Agency LLC acquired a new stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,032 shares of the company's stock, valued at approximately $341,000.

A number of other institutional investors also recently bought and sold shares of RKT. Nuveen LLC acquired a new position in Rocket Companies in the first quarter valued at $96,470,000. Boston Partners increased its stake in shares of Rocket Companies by 11.3% during the first quarter. Boston Partners now owns 13,704,339 shares of the company's stock worth $165,421,000 after acquiring an additional 1,390,559 shares during the period. Azora Capital LP acquired a new position in shares of Rocket Companies during the first quarter worth about $16,078,000. Kodai Capital Management LP acquired a new position in shares of Rocket Companies during the first quarter worth about $8,457,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Rocket Companies by 148.3% during the first quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company's stock worth $14,042,000 after acquiring an additional 694,779 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RKT shares. Wall Street Zen upgraded shares of Rocket Companies from a "sell" rating to a "hold" rating in a research note on Friday. The Goldman Sachs Group boosted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group boosted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 5th. Finally, BTIG Research upgraded shares of Rocket Companies to a "strong-buy" rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and an average target price of $16.65.

Rocket Companies Trading Down 3.2%

Shares of RKT opened at $17.78 on Friday. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36. The firm's 50-day moving average is $18.66 and its two-hundred day moving average is $15.14. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The firm has a market capitalization of $37.42 billion, a P/E ratio of -355.60 and a beta of 2.23.

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

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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