Marshall Wace LLP Trims Stock Position in Rocket Companies, Inc. (NYSE:RKT)

Marshall Wace LLP lowered its stake in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 80.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,009 shares of the company's stock after selling 244,922 shares during the period. Marshall Wace LLP's holdings in Rocket Companies were worth $687,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RKT. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 431,054 shares during the period. Boston Partners raised its position in Rocket Companies by 29.8% in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in Rocket Companies by 2.2% in the fourth quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company's stock valued at $91,904,000 after acquiring an additional 174,978 shares during the period. Wellington Management Group LLP boosted its position in shares of Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock worth $52,980,000 after purchasing an additional 2,990,837 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Rocket Companies by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 2,118,701 shares of the company's stock worth $23,865,000 after purchasing an additional 74,726 shares during the period. Hedge funds and other institutional investors own 4.59% of the company's stock.

Rocket Companies Trading Down 5.4 %

NYSE:RKT traded down $0.68 on Monday, reaching $11.94. The stock had a trading volume of 10,254,601 shares, compared to its average volume of 4,882,537. The company has a market cap of $23.83 billion, a price-to-earnings ratio of -74.61 and a beta of 2.35. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm's fifty day moving average is $13.39 and its two-hundred day moving average is $13.27.

Rocket Companies Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is currently 801.25%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Wednesday, April 2nd. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $10.00 to $14.00 in a research note on Tuesday, April 8th. The Goldman Sachs Group dropped their price objective on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 8th. Finally, Wedbush restated an "outperform" rating and issued a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.38.

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.