USS Investment Management Ltd Decreases Holdings in Rocket Companies, Inc. (NYSE:RKT)

USS Investment Management Ltd decreased its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 68.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,185 shares of the company's stock after selling 77,598 shares during the period. USS Investment Management Ltd's holdings in Rocket Companies were worth $408,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have commented on RKT. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a research note on Wednesday, April 2nd. Wedbush reiterated a "neutral" rating and issued a $12.00 target price (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. UBS Group boosted their price target on Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods lowered their target price on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.21.

Rocket Companies Trading Down 1.8%

RKT traded down $0.24 during midday trading on Friday, hitting $12.83. 2,235,448 shares of the company were exchanged, compared to its average volume of 5,668,562. The firm has a market capitalization of $25.67 billion, a P/E ratio of -80.84 and a beta of 2.33. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm's 50 day moving average price is $12.68 and its 200-day moving average price is $12.81. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38.

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. 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 during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned $0.04 earnings per share. The firm's quarterly revenue was down 10.8% on a year-over-year basis. As a group, equities analysts forecast that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Rocket Companies Cuts Dividend

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

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.