Sei Investments Co. Sells 61,222 Shares of Rocket Companies, Inc. (NYSE:RKT)

Sei Investments Co. cut its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 72.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,134 shares of the company's stock after selling 61,222 shares during the period. Sei Investments Co.'s holdings in Rocket Companies were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP raised its stake in Rocket Companies by 76.9% in the 4th quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock worth $3,049,000 after purchasing an additional 117,728 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rocket Companies by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock valued at $13,098,000 after buying an additional 122,534 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Rocket Companies by 131.7% in the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock valued at $410,000 after buying an additional 20,706 shares during the period. Victory Capital Management Inc. grew its position in Rocket Companies by 74.9% during the fourth quarter. Victory Capital Management Inc. now owns 117,448 shares of the company's stock worth $1,322,000 after buying an additional 50,287 shares in the last quarter. Finally, Bruni J V & Co. Co. lifted its position in shares of Rocket Companies by 21.2% during the 4th quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company's stock valued at $20,944,000 after acquiring an additional 324,976 shares during the period. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Up 0.7 %

Shares of RKT traded up $0.08 during trading hours on Thursday, reaching $12.33. The stock had a trading volume of 879,555 shares, compared to its average volume of 4,508,756. The company has a market capitalization of $24.61 billion, a price-to-earnings ratio of -77.31 and a beta of 2.35. The firm has a 50-day simple moving average of $13.51 and a 200 day simple moving average of $13.80. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies, Inc. has a 12 month low of $10.06 and a 12 month high of $21.38.

Rocket Companies Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, April 3rd. Investors 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 is presently 801.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RKT shares. JPMorgan Chase & Co. cut their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Wedbush reissued an "outperform" rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday. Keefe, Bruyette & Woods increased their target price 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price target on shares of Rocket Companies in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.38.

Rocket Companies 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.