49,049 Rocket Companies, Inc. $RKT Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,722,712 shares of the company’s stock after purchasing an additional 49,049 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Rocket Companies were worth $19,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Valeo Financial Advisors LLC raised its position in shares of Rocket Companies by 4.2% in the second quarter. Valeo Financial Advisors LLC now owns 20,473 shares of the company’s stock valued at $322,000 after purchasing an additional 823 shares during the period. NewEdge Wealth LLC lifted its stake in shares of Rocket Companies by 9.5% during the 1st quarter. NewEdge Wealth LLC now owns 14,457 shares of the company’s stock worth $206,000 after buying an additional 1,253 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Rocket Companies by 4.9% during the 2nd quarter. HB Wealth Management LLC now owns 27,040 shares of the company’s stock worth $426,000 after buying an additional 1,258 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Rocket Companies by 5.5% during the 1st quarter. World Investment Advisors now owns 28,667 shares of the company’s stock worth $409,000 after buying an additional 1,489 shares during the period. Finally, North Dakota State Investment Board boosted its holdings in shares of Rocket Companies by 6.0% during the 3rd quarter. North Dakota State Investment Board now owns 29,669 shares of the company’s stock worth $341,000 after buying an additional 1,668 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rocket Companies news, CEO Jesse Bray sold 225,000 shares of Rocket Companies stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $13.75, for a total value of $3,093,750.00. Following the completion of the sale, the chief executive officer owned 7,503,027 shares in the company, valued at $103,166,621.25. The trade was a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 675,000 shares of company stock worth $8,780,824 over the last 90 days. 57.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RKT has been the topic of a number of research reports. Benchmark decreased their price target on shares of Rocket Companies from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Royal Bank Of Canada cut their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, October 30th. Weiss Ratings upgraded Rocket Companies from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Morgan Stanley set a $16.00 target price on Rocket Companies and gave the company an “overweight” rating in a research report on Monday, October 12th. Finally, Stephens decreased their target price on Rocket Companies from $22.50 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Rocket Companies Stock Down 1.1%

RKT opened at $14.84 on Friday. Rocket Companies, Inc. has a fifty-two week low of $10.18 and a fifty-two week high of $24.36. The company has a debt-to-equity ratio of 1.02, a quick ratio of 4.85 and a current ratio of 3.77. The company has a market capitalization of $42.03 billion, a P/E ratio of 32.99, a P/E/G ratio of 4.54 and a beta of 2.27. The stock has a fifty day moving average of $12.40 and a 200-day moving average of $14.58.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, October 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Rocket Companies had a net margin of 11.14% and a return on equity of 5.33%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. Rocket Companies’s quarterly revenue was up 37.4% on a year-over-year basis. On average, equities analysts expect that Rocket Companies, Inc. will post 0.47 EPS for the current year.

Rocket Companies Profile

Rocket Companies, Inc is a Detroit-based financial technology company that operates a portfolio of consumer finance and real estate businesses. Its platform is designed to simplify the homeownership process through digital applications, automated workflows and online customer support.

The company’s principal business is Rocket Mortgage, a residential mortgage lender and servicer offering home purchase, refinance and home equity products. Its broader portfolio includes Rocket Homes, a real estate services platform; Rocket Money, a personal finance app that helps consumers manage subscriptions, budgets and bills; Rocket Loans, which provides personal loans; and Rocket Pro, which supports mortgage brokers and other partners.

Rocket Companies traces its history to 1985, when Dan Gilbert founded Rock Financial.