Swiss Life Asset Management Ltd Invests $1.10 Million in Rocket Companies, Inc. $RKT

Swiss Life Asset Management Ltd bought a new position in Rocket Companies, Inc. (NYSE:RKT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 56,953 shares of the company’s stock, valued at approximately $1,103,000.

A number of other institutional investors have also recently modified their holdings of the stock. ORG Partners LLC grew its stake in shares of Rocket Companies by 22.3% in the fourth quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock worth $55,000 after acquiring an additional 520 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Rocket Companies by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after buying an additional 636 shares in the last quarter. Composition Wealth LLC lifted its stake in shares of Rocket Companies by 2.7% in the fourth quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock worth $490,000 after buying an additional 668 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Rocket Companies by 26.1% in the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock worth $63,000 after buying an additional 677 shares in the last quarter. Finally, NewEdge Wealth LLC grew its holdings in shares of Rocket Companies by 5.7% during the fourth quarter. NewEdge Wealth LLC now owns 13,204 shares of the company’s stock valued at $256,000 after buying an additional 707 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday. Citizens Jmp initiated coverage on Rocket Companies in a research note on Wednesday, March 25th. They set a “market perform” rating on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $20.00 target price on shares of Rocket Companies in a research note on Monday, May 11th. Compass Point began coverage on Rocket Companies in a research note on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Zacks Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.93.

Rocket Companies Stock Performance

Shares of RKT stock opened at $13.34 on Friday. The company has a 50 day moving average price of $14.84 and a 200-day moving average price of $17.57. Rocket Companies, Inc. has a 52 week low of $12.03 and a 52 week high of $24.36. The firm has a market capitalization of $37.60 billion, a PE ratio of 266.70 and a beta of 2.23. The company has a quick ratio of 70.90, a current ratio of 4.37 and a debt-to-equity ratio of 1.13.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 167.1% on a year-over-year basis. As a group, equities research analysts expect that Rocket Companies, Inc. will post 0.63 earnings per share for the current year.

Key Rocket Companies News

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: U.S. pending home sales jumped to their highest level since 2022, which could support Rocket’s mortgage origination business and improve sentiment toward the housing-finance sector. Pending Home Sales Jump 10% From a Year Ago to Highest Level Since 2022
• Positive Sentiment: Zacks Research upgraded Rocket Companies from “strong sell” to “hold,” suggesting the recent selloff may be starting to attract more neutral-to-bullish views. Rocket Companies was upgraded by Zacks Research from strong sell to hold
• Positive Sentiment: Analysts continue to highlight Rocket’s Q1 earnings beat, its AI-driven automation efforts, and the potential for synergies from Redfin and Mr. Cooper, all of which could help margins and scale over time. Rocket Companies’ Business Model Explained: AI, Servicing, and Scale
• Neutral Sentiment: Several articles focus on valuation, noting that Rocket trades around 1.68x book value and that investors are still debating whether the stock is cheap after its sharp year-to-date decline. Rocket Companies Stock: Is a Hold Rating Enough at 1.68x Book Value?
• Negative Sentiment: BofA Securities lowered its price target on Rocket after Q1 earnings, which may be pressuring the shares despite keeping a Buy rating. BofA Lowers Rocket (RKT) Price Target After Q1 Earnings
• Negative Sentiment: The stock has fallen sharply this year, and one article questions whether the recent drop has already created value or if the market is signaling slower growth and ongoing mortgage-rate sensitivity. Is It Too Late To Consider Rocket Companies (RKT) After This Year’s 30% Pullback?

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.