Jump Financial LLC Invests $4.68 Million in Rocket Companies, Inc. (NYSE:RKT)

Jump Financial LLC acquired a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 415,282 shares of the company’s stock, valued at approximately $4,676,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV lifted its stake 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 buying an additional 2,226 shares during the last quarter. Sterling Capital Management LLC lifted its position in Rocket Companies by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock valued at $93,000 after purchasing an additional 3,019 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Rocket Companies during the 4th quarter valued at about $99,000. Garner Asset Management Corp bought a new position in Rocket Companies in the 4th quarter worth about $118,000. Finally, Huntington National Bank increased its stake in shares of Rocket Companies by 548,750.0% in the fourth quarter. Huntington National Bank now owns 10,977 shares of the company’s stock valued at $124,000 after purchasing an additional 10,975 shares during the period. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Down 1.7 %

NYSE RKT opened at $12.29 on Thursday. 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 $24.53 billion, a P/E ratio of -76.81 and a beta of 2.35. The company’s 50 day simple moving average is $13.51 and its 200 day simple moving average is $13.80. 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 Cuts Dividend

The business 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 was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

Analyst Upgrades and Downgrades

RKT has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group cut their price objective 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Rocket Companies has an average rating of “Hold” and an average price target 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.