Northwestern Mutual Wealth Management Co. Has $67,000 Stock Holdings in Rocket Companies, Inc. (NYSE:RKT)

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rocket Companies, Inc. (NYSE:RKTGet Rating) by 16.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,037 shares of the company’s stock after purchasing an additional 1,244 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Rocket Companies were worth $67,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RKT. Invesco Ltd. grew its position in shares of Rocket Companies by 4.8% during the 1st quarter. Invesco Ltd. now owns 10,789,221 shares of the company’s stock worth $119,975,000 after buying an additional 490,407 shares during the period. Vanguard Group Inc. increased its stake in Rocket Companies by 29.0% in the first quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company’s stock valued at $111,517,000 after purchasing an additional 2,252,066 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Rocket Companies by 2.7% during the first quarter. BlackRock Inc. now owns 6,684,239 shares of the company’s stock valued at $74,328,000 after purchasing an additional 178,545 shares during the period. State Street Corp boosted its position in shares of Rocket Companies by 11.3% during the 1st quarter. State Street Corp now owns 5,395,785 shares of the company’s stock worth $60,001,000 after purchasing an additional 548,077 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Rocket Companies by 378.7% in the 1st quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company’s stock valued at $26,211,000 after buying an additional 1,864,700 shares during the period. 4.16% of the stock is currently owned by institutional investors.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $8.13 on Friday. The company has a quick ratio of 14.97, a current ratio of 11.69 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $16.02 billion, a PE ratio of 10.42 and a beta of 1.74. The stock’s 50 day moving average price is $6.96 and its 200-day moving average price is $8.11. Rocket Companies, Inc. has a twelve month low of $5.97 and a twelve month high of $17.08.

Analyst Ratings Changes

A number of equities research analysts have commented on RKT shares. Piper Sandler reduced their price objective on Rocket Companies from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, September 30th. Barclays decreased their price target on shares of Rocket Companies from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, October 17th. Citigroup raised their price objective on shares of Rocket Companies to $10.00 in a research note on Tuesday, August 9th. Keefe, Bruyette & Woods cut shares of Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 price objective for the company. in a report on Sunday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Rocket Companies from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.79.

Insider Buying and Selling

In other Rocket Companies news, CEO Jay Farner acquired 21,400 shares of Rocket Companies stock in a transaction on Monday, August 22nd. The stock was purchased at an average price of $9.33 per share, for a total transaction of $199,662.00. Following the purchase, the chief executive officer now directly owns 3,711,407 shares of the company’s stock, valued at $34,627,427.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have acquired 1,022,100 shares of company stock worth $7,286,752. 94.01% of the stock is owned by company insiders.

Rocket Companies Company Profile

(Get Rating)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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