SEB Asset Management AB Purchases New Stake in Rocket Companies, Inc. $RKT

Key Points

• SEB Asset Management AB opened a new position in Rocket Companies during the first quarter, buying 185,778 shares valued at about $2.65 million.
• Rocket Companies stock was down 4.9% and recently traded near $12.79, close to its 52-week low of $12.17, even as several large institutional investors continued to hold sizable stakes.
• The company’s most recent earnings beat expectations, with EPS of $0.15 versus $0.12 expected and revenue of $2.82 billion, while analysts currently rate the stock Moderate Buy with an average target price of $20.73.

SEB Asset Management AB acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 185,778 shares of the company's stock, valued at approximately $2,647,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Rocket Companies by 280.3% during the fourth quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company's stock worth $1,689,287,000 after purchasing an additional 64,311,040 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rocket Companies by 11,636.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,189,869 shares of the company's stock valued at $507,037,000 after buying an additional 25,966,725 shares during the last quarter. Morgan Stanley increased its holdings in Rocket Companies by 461.2% in the fourth quarter. Morgan Stanley now owns 27,009,279 shares of the company's stock valued at $522,900,000 after buying an additional 22,196,782 shares during the last quarter. State Street Corp raised its stake in Rocket Companies by 323.9% during the fourth quarter. State Street Corp now owns 20,688,336 shares of the company's stock valued at $400,526,000 after buying an additional 15,807,776 shares in the last quarter. Finally, ValueAct Holdings L.P. raised its stake in Rocket Companies by 55.1% during the fourth quarter. ValueAct Holdings L.P. now owns 39,380,652 shares of the company's stock valued at $762,409,000 after buying an additional 13,985,025 shares in the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Stock Down 4.9%

NYSE:RKT opened at $12.79 on Friday. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average of $14.05 and a 200-day moving average of $16.10. The firm has a market capitalization of $36.18 billion, a PE ratio of 255.72 and a beta of 2.16. Rocket Companies, Inc. has a 52 week low of $12.17 and a 52 week high of $24.36.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.76 billion. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The business's revenue was up 167.1% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. Analysts predict that Rocket Companies, Inc. will post 0.58 EPS for the current year.

Rocket Companies News Roundup

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: Rocket announced it will release second-quarter 2026 results on August 6, with management hosting a conference call afterward. The scheduled update gives investors a near-term catalyst and could provide clarity on mortgage demand, margins, and guidance. Rocket Companies to Announce Second Quarter 2026 Results on August 6, 2026
• Positive Sentiment: Another report noted that Rocket’s earnings are expected to grow year over year, which suggests the company may be benefiting from improved operating trends heading into the print, even though analysts do not see a strong setup for an easy beat. Rocket Companies (RKT) Earnings Expected to Grow: What to Know Ahead of Q2 Release
• Neutral Sentiment: Redfin, which is powered by Rocket, reported that San Francisco home prices have rebounded sharply since the financial crisis, highlighting strength in some housing markets and supporting Rocket’s broader real-estate ecosystem. From Bust to Boom: San Francisco Home Prices Are Now $1 Million Higher Than Housing-Crash Bottom
• Neutral Sentiment: At the same time, Redfin said U.S. pending home sales fell to a three-month low, a sign that housing activity remains soft and could keep pressure on mortgage originations and transaction volumes. Redfin Reports Pending Home Sales Fall to 3-Month Low
• Negative Sentiment: Analyst commentary ahead of the earnings release said Rocket does not have the strongest setup for an earnings beat, which may be contributing to caution and some pre-earnings selling. Rocket Companies (RKT) Earnings Expected to Grow: What to Know Ahead of Q2 Release

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RKT. Zacks Research upgraded Rocket Companies from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Weiss Ratings upgraded Rocket Companies from a "sell (d)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $20.00 price objective on shares of Rocket Companies in a report on Monday, May 11th. Keefe, Bruyette & Woods lowered their target price on shares of Rocket Companies from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, June 25th. Finally, Barclays dropped their target price on shares of Rocket Companies from $19.00 to $17.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Rocket Companies currently has an average rating of "Moderate Buy" and an average target price of $20.73.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company's core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.

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