Teacher Retirement System of Texas Invests $415,000 in Rocket Companies, Inc. (NYSE:RKT)

Teacher Retirement System of Texas acquired a new stake in Rocket Companies, Inc. (NYSE:RKT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 36,865 shares of the company’s stock, valued at approximately $415,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in shares of Rocket Companies by 131.7% during the 4th 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Companies by 11.8% during 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 purchasing an additional 122,534 shares during the last quarter. XTX Topco Ltd purchased a new stake in Rocket Companies during the third quarter valued at about $1,486,000. Quadrature Capital Ltd bought a new position in Rocket Companies during the third quarter worth about $1,071,000. Finally, Victory Capital Management Inc. increased its stake in shares of Rocket Companies by 74.9% in the fourth quarter. Victory Capital Management Inc. now owns 117,448 shares of the company’s stock worth $1,322,000 after purchasing an additional 50,287 shares in the last quarter. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RKT. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their price objective on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a research note on Monday, March 3rd. UBS Group upgraded Rocket Companies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. Morgan Stanley lowered their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Finally, 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 report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and an average target price of $13.83.

Rocket Companies Stock Down 7.6 %

RKT opened at $12.05 on Tuesday. The business’s fifty day simple moving average is $13.34 and its 200 day simple moving average is $14.32. 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 stock has a market cap of $24.04 billion, a PE ratio of -75.28 and a beta of 2.39.

Rocket Companies Cuts Dividend

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

About Rocket Companies

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.