Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases New Position in Rocket Companies, Inc. $RKT

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Rocket Companies, Inc. (NYSE:RKT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 252,100 shares of the company’s stock, valued at approximately $4,881,000.

Several other institutional investors have also modified their holdings of RKT. Pinnacle Bancorp Inc. lifted its stake in shares of Rocket Companies by 369.7% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock valued at $29,000 after purchasing an additional 1,183 shares during the last quarter. City State Bank bought a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $30,000. Smithfield Trust Co bought a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $32,000. Key Financial Inc bought a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $32,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Rocket Companies by 354.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,540 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lowered their price objective on Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $22.00 to $19.00 in a research note on Monday, April 6th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $20.00 price objective on shares of Rocket Companies in a research note on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.93.

Rocket Companies Price Performance

Shares of RKT stock opened at $12.36 on Tuesday. Rocket Companies, Inc. has a 52-week low of $12.17 and a 52-week high of $24.36. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.37 and a current ratio of 4.37. The firm has a market capitalization of $34.97 billion, a P/E ratio of 247.20 and a beta of 2.19. The stock has a 50 day moving average price of $14.50 and a 200 day moving average price of $17.20.

Rocket Companies (NYSE:RKT) last issued its 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. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The company’s quarterly revenue was up 167.1% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. As a group, sell-side analysts predict that Rocket Companies, Inc. will post 0.65 earnings per share for the current year.

Rocket Companies 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.