Patriot Financial Group Insurance Agency LLC Has $801,000 Holdings in Rocket Companies, Inc. $RKT

Patriot Financial Group Insurance Agency LLC raised its position in shares of Rocket Companies, Inc. (NYSE:RKT) by 309.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,180 shares of the company’s stock after acquiring an additional 42,468 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Rocket Companies were worth $801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Rocket Companies by 48.9% in the 1st quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock valued at $841,000 after purchasing an additional 22,861 shares during the period. Amundi increased its position in Rocket Companies by 3.1% during the 1st quarter. Amundi now owns 33,416 shares of the company’s stock worth $403,000 after buying an additional 997 shares during the period. AQR Capital Management LLC increased its position in Rocket Companies by 1,086.5% during the 1st quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock worth $4,734,000 after buying an additional 366,716 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Rocket Companies by 12.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock worth $4,473,000 after buying an additional 40,326 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Rocket Companies by 17.2% during the second quarter. Creative Planning now owns 18,215 shares of the company’s stock worth $258,000 after buying an additional 2,679 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of Rocket Companies stock opened at $15.76 on Wednesday. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 1.13. The company has a market cap of $44.60 billion, a PE ratio of 315.24 and a beta of 2.19. The company has a 50 day moving average of $14.22 and a 200-day moving average of $16.65. Rocket Companies, Inc. has a 1-year low of $12.17 and a 1-year high of $24.36.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RKT shares. Keefe, Bruyette & Woods decreased their price target on shares of Rocket Companies from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Benchmark assumed coverage on shares of Rocket Companies in a research note on Monday. They issued a “buy” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a report on Thursday, April 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 target price on shares of Rocket Companies in a research report on Monday, May 11th. Finally, Zacks Research raised shares of Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.87.

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.