Lakeshore Financial Planning Inc. Buys 2,500 Shares of Rocket Companies, Inc. (NYSE:RKT)

Lakeshore Financial Planning Inc. lifted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 21.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,996 shares of the company’s stock after acquiring an additional 2,500 shares during the quarter. Lakeshore Financial Planning Inc.’s holdings in Rocket Companies were worth $158,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in RKT. Boston Partners boosted its stake in Rocket Companies by 29.8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company’s stock valued at $138,673,000 after purchasing an additional 2,829,292 shares during the period. State Street Corp boosted its stake in 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 during the period. Bruni J V & Co. Co. boosted its stake in Rocket Companies by 21.2% during the 4th quarter. Bruni J V & Co. Co. now owns 1,860,060 shares of the company’s stock valued at $20,944,000 after purchasing an additional 324,976 shares during the period. Raymond James Financial Inc. bought a new stake in Rocket Companies during the 4th quarter valued at approximately $3,469,000. Finally, Tidal Investments LLC boosted its stake in Rocket Companies by 804.3% during the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock valued at $6,060,000 after purchasing an additional 280,847 shares during the period. Institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

RKT has been the subject of several recent analyst reports. 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 research note on Monday, March 3rd. The Goldman Sachs Group reduced their price objective 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. Wedbush reiterated a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, March 5th. UBS Group upgraded Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Finally, Morgan Stanley reduced their price objective 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. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, Rocket Companies presently has an average rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Stock Down 3.8 %

NYSE RKT opened at $14.34 on Friday. The stock has a fifty day moving average of $13.06 and a 200-day moving average of $14.68. The stock has a market capitalization of $28.62 billion, a P/E ratio of -89.62 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 debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

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 $0.80 dividend. The ex-dividend date is Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is currently 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.