Caisse Des Depots ET Consignations Invests $99,000 in Rocket Companies, Inc. (NYSE:RKT)

Caisse Des Depots ET Consignations purchased a new stake in shares of Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,807 shares of the company’s stock, valued at approximately $99,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RKT. KBC Group NV grew its stake in Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after purchasing an additional 2,226 shares during the period. SBI Securities Co. Ltd. bought a new position in Rocket Companies during the fourth quarter valued at about $135,000. Daiwa Securities Group Inc. bought a new position in Rocket Companies during the fourth quarter valued at about $136,000. Kingsview Wealth Management LLC purchased a new stake in Rocket Companies during the third quarter worth about $235,000. Finally, Townsquare Capital LLC bought a new stake in Rocket Companies in the third quarter worth about $238,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on RKT. Keefe, Bruyette & Woods increased their price objective on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $12.50 to $11.50 in a report on Friday, January 10th. Morgan Stanley reduced their target price on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, Wedbush reissued a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and a consensus price target of $13.83.

Rocket Companies Stock Down 1.0 %

RKT opened at $13.03 on Friday. The firm has a market capitalization of $26.00 billion, a P/E ratio of -81.41 and a beta of 2.39. Rocket Companies, Inc. has a one year low of $10.06 and a one year high of $21.38. The company has a fifty day moving average price of $13.33 and a 200-day moving average price of $14.42. 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 firm also recently announced a dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s payout ratio is 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.