Raymond James Financial Inc. Increases Position in Rocket Companies, Inc. $RKT

Key Points

• Raymond James Financial Inc. increased its stake in Rocket Companies by 17.5%, holding 361,975 shares valued at approximately $4.37 million.
• Rocket Companies has seen a significant rise in stockholder activity, with several other institutional investors also boosting their positions in the firm.
• The company's recent earnings report showed a 4.5% year-over-year revenue increase, outperforming analyst expectations with reported revenue of $1.36 billion.

Raymond James Financial Inc. lifted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 17.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 361,975 shares of the company's stock after purchasing an additional 53,887 shares during the quarter. Raymond James Financial Inc.'s holdings in Rocket Companies were worth $4,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cresset Asset Management LLC raised its position in Rocket Companies by 10.7% during the 1st quarter. Cresset Asset Management LLC now owns 17,542 shares of the company's stock valued at $226,000 after purchasing an additional 1,693 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Rocket Companies in the 1st quarter worth approximately $124,000. Boston Partners raised its position in shares of Rocket Companies by 11.3% in the 1st 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 in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Rocket Companies by 1,932.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 13,823 shares of the company's stock worth $167,000 after acquiring an additional 13,143 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Rocket Companies by 804.9% in the 1st quarter. Russell Investments Group Ltd. now owns 13,800 shares of the company's stock worth $167,000 after acquiring an additional 12,275 shares in the last quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Trading Up 2.2%

Shares of NYSE RKT traded up $0.46 during midday trading on Wednesday, hitting $20.92. The company's stock had a trading volume of 27,167,825 shares, compared to its average volume of 13,204,162. The business's 50 day moving average is $16.58 and its two-hundred day moving average is $14.41. The firm has a market cap of $44.02 billion, a P/E ratio of -417.40 and a beta of 2.30. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $22.08. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36.

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

Analyst Ratings Changes

RKT has been the subject of a number of analyst reports. UBS Group set a $16.00 price objective on Rocket Companies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. BTIG Research upgraded Rocket Companies to a "strong-buy" rating in a research note on Tuesday, August 19th. The Goldman Sachs Group increased their target price on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Bank of America upgraded Rocket Companies from a "neutral" rating to a "buy" rating and increased their target price for the company from $21.00 to $24.00 in a research note on Wednesday. Finally, Jefferies Financial Group raised their price target on Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $16.50.

Rocket Companies 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.