KBC Group NV Has $11.05 Million Position in Rocket Companies, Inc. $RKT

KBC Group NV raised its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 425.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 775,246 shares of the company’s stock after acquiring an additional 627,677 shares during the quarter. KBC Group NV’s holdings in Rocket Companies were worth $11,048,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Rocket Companies by 280.3% in the fourth quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock valued at $1,689,287,000 after buying an additional 64,311,040 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Rocket Companies by 11,636.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,189,869 shares of the company’s stock worth $507,037,000 after buying an additional 25,966,725 shares in the last quarter. Morgan Stanley raised its stake in shares of Rocket Companies by 461.2% in the fourth quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock valued at $522,900,000 after acquiring an additional 22,196,782 shares during the last quarter. State Street Corp boosted its holdings in shares of Rocket Companies by 323.9% in the 4th quarter. State Street Corp now owns 20,688,336 shares of the company’s stock worth $400,526,000 after acquiring an additional 15,807,776 shares in the last quarter. Finally, ValueAct Holdings L.P. boosted its holdings in shares of Rocket Companies by 55.1% in the 4th quarter. ValueAct Holdings L.P. now owns 39,380,652 shares of the company’s stock worth $762,409,000 after acquiring an additional 13,985,025 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 1.4%

Shares of NYSE RKT opened at $13.46 on Thursday. Rocket Companies, Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $24.36. The firm has a market capitalization of $38.08 billion, a P/E ratio of 269.18 and a beta of 2.16. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. The company’s 50 day simple moving average is $14.08 and its 200 day simple moving average is $16.15.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the business posted $0.04 EPS. The firm’s quarterly revenue was up 167.1% on a year-over-year basis. On average, analysts predict that Rocket Companies, Inc. will post 0.58 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on RKT. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Citizens Jmp assumed coverage on Rocket Companies in a research note on Wednesday, March 25th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods cut their price target on Rocket Companies from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $20.00 price target on shares of Rocket Companies in a research report on Monday, May 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.73.

Rocket Companies Company Profile

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.