Amundi Has $339,000 Stake in Rocket Companies, Inc. (NYSE:RKT)

Amundi trimmed its stake in Rocket Companies, Inc. (NYSE:RKT) by 87.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,419 shares of the company’s stock after selling 219,911 shares during the period. Amundi’s holdings in Rocket Companies were worth $339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its position in Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after purchasing an additional 1,269,795 shares during the last quarter. Geode Capital Management LLC grew its position in Rocket Companies by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock worth $39,235,000 after purchasing an additional 12,735 shares during the last quarter. Bruni J V & Co. Co. grew its position in Rocket Companies by 21.2% in the 4th quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock worth $20,944,000 after purchasing an additional 324,976 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Companies by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock valued at $13,098,000 after acquiring an additional 122,534 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Rocket Companies by 39.4% during the 4th quarter. Bank of New York Mellon Corp now owns 468,620 shares of the company’s stock valued at $5,277,000 after acquiring an additional 132,453 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Rocket Companies Trading Down 1.7 %

Shares of NYSE RKT opened at $14.10 on Friday. Rocket Companies, Inc. has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a market cap of $28.14 billion, a PE ratio of -88.09 and a beta of 2.39. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $13.14 and a two-hundred day moving average of $14.64.

Rocket Companies Cuts Dividend

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

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.