Truist Financial Corp Raises Position in Rocket Companies, Inc. (NYSE:RKT)

Truist Financial Corp raised its holdings in shares of Rocket Companies, Inc. (NYSE:RKT) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,373 shares of the company’s stock after buying an additional 2,621 shares during the quarter. Truist Financial Corp’s holdings in Rocket Companies were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of Rocket Companies in the third quarter worth approximately $39,000. KBC Group NV increased its holdings in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Rocket Companies by 3,429.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after buying an additional 7,168 shares in the last quarter. Versor Investments LP bought a new stake in shares of Rocket Companies during the 3rd quarter worth $223,000. Finally, Kingsview Wealth Management LLC purchased a new position in Rocket Companies in the third quarter worth $235,000. 4.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RKT has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. 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 research report on Thursday, December 19th. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price target for the company from $12.50 to $11.50 in a research report on Friday, January 10th. The Goldman Sachs Group lowered their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday. 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.83.

Rocket Companies Price Performance

Shares of Rocket Companies stock opened at $14.95 on Thursday. The firm has a market cap of $29.81 billion, a PE ratio of -93.41 and a beta of 2.43. The company’s fifty day simple moving average is $12.24 and its two-hundred day simple moving average is $15.05. The company has a quick ratio of 15.47, a current 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.

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.