Deutsche Bank AG Sells 50,702 Shares of Rocket Companies, Inc. (NYSE:RKT)

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

A number of other large investors have also bought and sold shares of RKT. Itau Unibanco Holding S.A. purchased a new stake in Rocket Companies in the fourth quarter worth $47,000. KBC Group NV increased its position in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after buying an additional 2,226 shares during the last quarter. Sterling Capital Management LLC increased its position in Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock worth $93,000 after buying an additional 3,019 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in Rocket Companies in the fourth quarter worth $99,000. Finally, Garner Asset Management Corp purchased a new stake in Rocket Companies in the fourth quarter worth $118,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Price Performance

NYSE:RKT traded up $0.37 during trading hours on Tuesday, hitting $13.05. 9,257,911 shares of the company's stock traded hands, compared to its average volume of 5,635,941. The firm has a market cap of $26.10 billion, a P/E ratio of -81.56 and a beta of 2.33. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The business's fifty day simple moving average is $12.75 and its two-hundred day simple moving average is $12.82. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

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

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were paid 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 -4,273.33%.

Wall Street Analysts Forecast Growth

RKT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 price target on shares of Rocket Companies in a report on Tuesday, April 1st. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. UBS Group cut their price target on Rocket Companies from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $12.00 price target (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.13.

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.