Rocket Companies, Inc. (NYSE:RKT) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 875.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 145,485 shares of the company's stock after purchasing an additional 130,571 shares during the period. Hsbc Holdings PLC's holdings in Rocket Companies were worth $1,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RKT. Wellington Management Group LLP increased its position in Rocket Companies by 174.5% during the fourth 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. Boston Partners grew its position in shares of Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock worth $138,673,000 after acquiring an additional 2,829,292 shares during the last quarter. Barclays PLC increased its holdings in shares of Rocket Companies by 216.1% in the 4th quarter. Barclays PLC now owns 753,345 shares of the company's stock valued at $8,483,000 after acquiring an additional 515,022 shares during the period. Vanguard Group Inc. raised its position in Rocket Companies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock valued at $140,976,000 after purchasing an additional 431,054 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Rocket Companies during the 4th quarter worth $4,676,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Price Performance

Shares of RKT stock traded up $0.03 during mid-day trading on Wednesday, reaching $11.56. The stock had a trading volume of 1,935,064 shares, compared to its average volume of 8,241,888. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. 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 business has a 50-day simple moving average of $13.34 and a 200 day simple moving average of $13.22. The company has a market cap of $23.07 billion, a P/E ratio of -72.22 and a beta of 2.33.

Rocket Companies Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is presently 801.25%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RKT. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research note on Tuesday, April 1st. 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 research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $14.38.

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.