Voya Investment Management LLC Sells 775,684 Shares of Rocket Companies, Inc. (NYSE:RKT)

Voya Investment Management LLC trimmed its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 58.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 560,851 shares of the company's stock after selling 775,684 shares during the quarter. Voya Investment Management LLC's holdings in Rocket Companies were worth $6,315,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in 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 lifted its holdings in shares of Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock worth $138,673,000 after purchasing an additional 2,829,292 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 buying an additional 174,978 shares during the period. Wellington Management Group LLP raised its holdings in 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 during the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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 acquiring an additional 74,726 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on RKT. Keefe, Bruyette & Woods raised their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 price target on shares of Rocket Companies in a research report on Tuesday, April 1st. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.38.

Rocket Companies Stock Performance

Rocket Companies stock traded down $0.55 during mid-day trading on Monday, reaching $12.08. The company's stock had a trading volume of 2,942,785 shares, compared to its average volume of 4,854,554. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a market capitalization of $24.10 billion, a P/E ratio of -75.41 and a beta of 2.35. The firm's fifty day moving average price is $13.39 and its two-hundred day moving average price 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 issued a dividend of $0.80 per share. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is presently 801.25%.

Rocket Companies Company 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.