Nuveen Asset Management LLC Boosts Stake in Rocket Companies, Inc. (NYSE:RKT)

Nuveen Asset Management LLC boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 52.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,122,148 shares of the company's stock after purchasing an additional 2,804,090 shares during the quarter. Nuveen Asset Management LLC owned about 0.41% of Rocket Companies worth $91,455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC boosted its stake in shares of Rocket Companies by 136.2% in the 3rd quarter. Barclays PLC now owns 238,323 shares of the company's stock valued at $4,573,000 after purchasing an additional 137,441 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Rocket Companies by 75.1% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 28,508 shares of the company's stock valued at $321,000 after acquiring an additional 12,230 shares during the period. Missouri Trust & Investment Co raised its stake in Rocket Companies by 21.5% during the fourth quarter. Missouri Trust & Investment Co now owns 86,295 shares of the company's stock worth $972,000 after acquiring an additional 15,260 shares in the last quarter. Lincoln Capital Corp acquired a new position in shares of Rocket Companies in the fourth quarter valued at approximately $1,831,000. Finally, KBC Group NV boosted its holdings in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after acquiring an additional 2,226 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company's stock.

Rocket Companies Stock Down 2.2%

Shares of RKT stock traded down $0.29 on Monday, hitting $12.95. The company's stock had a trading volume of 11,732,272 shares, compared to its average volume of 5,500,475. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of -80.94 and a beta of 2.33. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The firm's fifty day moving average price is $12.98 and its 200-day moving average price is $12.94.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.04 EPS. The business's quarterly revenue was down 10.8% compared to the same quarter last year. Research analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors 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 -4,273.33%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RKT shares. Wedbush reaffirmed a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Barclays upgraded Rocket Companies from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $10.00 to $14.00 in a report on Tuesday, April 8th. UBS Group cut their target price on Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.13.

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.