Rocket Companies, Inc. (NYSE:RKT) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its position in Rocket Companies, Inc. (NYSE:RKT - Free Report) by 98.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,322 shares of the company's stock after selling 143,600 shares during the quarter. National Bank of Canada FI's holdings in Rocket Companies were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV lifted its position in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after buying an additional 2,226 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new stake in Rocket Companies during the fourth quarter worth about $99,000. SBI Securities Co. Ltd. purchased a new position in Rocket Companies during the fourth quarter worth about $135,000. Daiwa Securities Group Inc. acquired a new position in Rocket Companies in the 4th quarter valued at about $136,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $154,000. Hedge funds and other institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Down 1.4 %

NYSE:RKT traded down $0.17 during mid-day trading on Friday, hitting $12.08. The stock had a trading volume of 6,654,375 shares, compared to its average volume of 4,555,214. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $21.38. The stock has a 50-day simple moving average of $13.48 and a two-hundred day simple moving average of $13.71. 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 company has a market capitalization of $24.11 billion, a PE ratio of -75.49 and a beta of 2.35.

Rocket Companies Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on RKT shares. JPMorgan Chase & Co. lowered 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research report on Tuesday, April 1st. Morgan Stanley dropped their price target on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their price target on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.