Rocket Companies, Inc. (NYSE:RKT) Stock Position Lowered by Deutsche Bank AG

Deutsche Bank AG decreased its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 28.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 129,562 shares of the company's stock after selling 50,702 shares during the period. Deutsche Bank AG's holdings in Rocket Companies were worth $1,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Investment Advisers raised its stake in Rocket Companies by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock worth $372,000 after purchasing an additional 936 shares during the period. KBC Group NV raised its stake in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after purchasing an additional 2,226 shares during the period. The Manufacturers Life Insurance Company raised its stake in Rocket Companies by 9.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company's stock worth $313,000 after purchasing an additional 2,437 shares during the period. Lakeshore Financial Planning Inc. raised its stake in Rocket Companies by 21.7% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock worth $158,000 after purchasing an additional 2,500 shares during the period. Finally, Truist Financial Corp raised its stake in Rocket Companies by 12.6% during the fourth quarter. Truist Financial Corp now owns 23,373 shares of the company's stock worth $263,000 after purchasing an additional 2,621 shares during the period. Hedge funds and other institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Performance

Rocket Companies stock traded up $0.05 during midday trading on Thursday, reaching $12.92. 2,638,878 shares of the stock traded hands, compared to its average volume of 9,266,447. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a fifty day moving average price of $12.70 and a two-hundred day moving average price of $12.83. The firm has a market cap of $25.83 billion, a price-to-earnings ratio of -80.84 and a beta of 2.33. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last posted 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. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.26 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. Rocket Companies's revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. On average, equities research analysts forecast that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Rocket Companies Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their target price on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a research note on Monday, May 12th. UBS Group cut their target price on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a report on Wednesday, April 2nd. Finally, Wedbush reaffirmed a "neutral" rating and set a $12.00 price target (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.