Rocket Companies, Inc. (NYSE:RKT) Stake Raised by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 16.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 330,293 shares of the company's stock after buying an additional 46,856 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Rocket Companies were worth $3,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Rocket Companies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock worth $140,976,000 after purchasing an additional 431,054 shares during the period. Boston Partners increased its position in shares of Rocket Companies by 29.8% in the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock valued at $138,673,000 after buying an additional 2,829,292 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rocket Companies by 2.2% during the 4th quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company's stock worth $91,904,000 after buying an additional 174,978 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Rocket Companies by 52.7% during the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock valued at $91,455,000 after buying an additional 2,804,090 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock valued at $52,980,000 after buying an additional 2,990,837 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Stock Down 0.3%

RKT traded down $0.04 during trading hours on Friday, reaching $12.76. 7,478,880 shares of the stock traded hands, compared to its average volume of 5,910,165. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The company has a market cap of $25.52 billion, a price-to-earnings ratio of -79.75 and a beta of 2.28. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm's fifty day simple moving average is $12.65 and its two-hundred day simple moving average is $12.76.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $0.04 EPS. Rocket Companies's quarterly revenue was down 10.8% on a year-over-year basis. As a group, analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current fiscal year.

Rocket Companies Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio is currently -4,273.33%.

Analyst Ratings Changes

RKT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Wednesday, April 2nd. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. Wedbush restated a "neutral" rating and set a $12.00 price target (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Finally, UBS Group upped their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Rocket Companies currently has an average rating of "Hold" and a consensus price target of $14.21.

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.