Charles Schwab Investment Management Inc. Has $13.10 Million Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Charles Schwab Investment Management Inc. grew its stake in Rocket Companies, Inc. (NYSE:RKT) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,163,243 shares of the company’s stock after buying an additional 122,534 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rocket Companies were worth $13,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Rocket Companies by 44.7% during the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after purchasing an additional 1,269,795 shares in the last quarter. Bruni J V & Co. Co. increased its position in Rocket Companies by 21.2% in the fourth quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock worth $20,944,000 after buying an additional 324,976 shares during the last quarter. Tidal Investments LLC increased its position in Rocket Companies by 804.3% in the third quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock worth $6,060,000 after buying an additional 280,847 shares during the last quarter. Lincoln Capital Corp bought a new stake in shares of Rocket Companies during the 4th quarter valued at $1,831,000. Finally, National Bank of Canada FI raised its stake in shares of Rocket Companies by 6,932.4% during the 3rd quarter. National Bank of Canada FI now owns 145,922 shares of the company’s stock valued at $2,800,000 after purchasing an additional 143,847 shares during the period. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of NYSE:RKT opened at $14.10 on Friday. The company has a market capitalization of $28.14 billion, a price-to-earnings ratio of -88.09 and a beta of 2.39. Rocket Companies, Inc. has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $13.14 and a 200 day moving average of $14.64.

Rocket Companies Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s payout ratio is currently 801.25%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price 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. Keefe, Bruyette & Woods increased their target price on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. Morgan Stanley dropped their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and lowered their price target for the company from $12.50 to $11.50 in a research report on Friday, January 10th. Finally, The Goldman Sachs Group lowered their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.83.

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.