TD Asset Management Inc Makes New Investment in Rocket Companies, Inc. $RKT

TD Asset Management Inc purchased a new position in shares of Rocket Companies, Inc. (NYSE:RKT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,935 shares of the company’s stock, valued at approximately $169,000.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Rocket Companies by 148.3% during the first quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company’s stock worth $14,042,000 after purchasing an additional 694,779 shares in the last quarter. Lincoln Capital Corp raised its stake in shares of Rocket Companies by 304.1% in the second quarter. Lincoln Capital Corp now owns 270,614 shares of the company’s stock valued at $3,837,000 after acquiring an additional 203,639 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Rocket Companies in the first quarter valued at $5,381,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Rocket Companies in the second quarter valued at $44,102,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Rocket Companies by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company’s stock valued at $15,285,000 after acquiring an additional 103,156 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Stock Performance

Shares of RKT stock opened at $17.62 on Friday. Rocket Companies, Inc. has a 1 year low of $10.06 and a 1 year high of $22.56. The firm has a market cap of $37.07 billion, a price-to-earnings ratio of -352.30 and a beta of 2.23. The stock’s 50-day moving average is $18.60 and its two-hundred day moving average is $15.43. The company has a debt-to-equity ratio of 2.36, a quick ratio of 18.74 and a current ratio of 18.74.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. Analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RKT. Royal Bank Of Canada increased their price objective on Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Rocket Companies in a research note on Monday, October 13th. Keefe, Bruyette & Woods increased their price objective on Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, August 5th. Bank of America upgraded Rocket Companies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $24.00 in a research note on Wednesday, September 10th. Finally, Wall Street Zen raised Rocket Companies from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and an average price target of $17.12.

Rocket Companies Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services 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; and Rocket Loans, an online-based personal loans business.