Legal & General Group Plc Has $6.48 Million Stake in Rocket Companies, Inc. (NYSE:RKT)

Legal & General Group Plc decreased its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 24.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 575,842 shares of the company's stock after selling 183,654 shares during the period. Legal & General Group Plc's holdings in Rocket Companies were worth $6,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. KBC Group NV grew 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 buying an additional 2,226 shares in the last quarter. Lakeshore Financial Planning Inc. raised its holdings in shares of Rocket Companies by 21.7% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock valued at $158,000 after purchasing an additional 2,500 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Rocket Companies by 12.6% in the 4th quarter. Truist Financial Corp now owns 23,373 shares of the company's stock valued at $263,000 after purchasing an additional 2,621 shares during the last quarter. Virtu Financial LLC increased its position in Rocket Companies by 22.1% during the third quarter. Virtu Financial LLC now owns 16,135 shares of the company's stock worth $310,000 after buying an additional 2,925 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Rocket Companies by 1.3% during the fourth quarter. Swiss National Bank now owns 248,900 shares of the company's stock valued at $2,803,000 after buying an additional 3,200 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RKT has been the topic of a number of recent analyst reports. 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 research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, April 8th. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $10.00 to $14.00 in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $14.38.

Rocket Companies Trading Up 2.9 %

Rocket Companies stock traded up $0.36 during mid-day trading on Thursday, hitting $12.46. 2,155,114 shares of the company's stock were exchanged, compared to its average volume of 4,656,360. The company's 50 day simple moving average is $13.44 and its 200-day simple moving average is $13.58. 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 has a market capitalization of $24.86 billion, a P/E ratio of -77.78 and a beta of 2.35. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, April 3rd. Stockholders 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%.

About Rocket Companies

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.