Invesco Ltd. Has $2.17 Million Position in Rocket Companies, Inc. (NYSE:RKT)

Invesco Ltd. decreased its position in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,252 shares of the company's stock after selling 241,622 shares during the quarter. Invesco Ltd.'s holdings in Rocket Companies were worth $2,165,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. KBC Group NV lifted its stake in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after purchasing an additional 2,226 shares during the period. Caisse Des Depots ET Consignations bought a new stake in Rocket Companies in the fourth quarter valued at about $99,000. Huntington National Bank lifted its stake in Rocket Companies by 548,750.0% in the fourth quarter. Huntington National Bank now owns 10,977 shares of the company's stock valued at $124,000 after buying an additional 10,975 shares during the period. SBI Securities Co. Ltd. bought a new position in Rocket Companies during the fourth quarter worth about $135,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Rocket Companies during the 4th quarter worth about $136,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Performance

NYSE RKT opened at $12.94 on Wednesday. The firm has a market capitalization of $25.83 billion, a P/E ratio of -80.88 and a beta of 2.35. 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's fifty day moving average price is $13.43 and its two-hundred day moving average price is $13.42. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $21.38.

Rocket Companies Cuts Dividend

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

Wall Street Analysts Forecast Growth

RKT has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced 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 note on Tuesday, January 14th. Barclays upgraded shares of 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 report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a report on Wednesday, April 2nd. Wedbush restated an "outperform" rating and issued a $13.00 price target on shares of Rocket Companies in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price objective on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Companies presently has an average rating of "Hold" and an average price target of $14.38.

Rocket Companies 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.

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