AssetMark Financial (NYSE:AMK) Price Target Lowered to $32.00 at BMO Capital Markets

AssetMark Financial (NYSE:AMK) had its target price trimmed by BMO Capital Markets from $33.00 to $32.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other analysts also recently commented on AMK. Raymond James reduced their price objective on AssetMark Financial from $38.00 to $36.00 and set a strong-buy rating for the company in a research note on Wednesday, October 11th. Jefferies Financial Group cut their target price on AssetMark Financial from $30.00 to $25.00 in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $30.60.

AssetMark Financial Stock Up 3.7 %

AMK opened at $25.09 on Tuesday. The business has a 50 day moving average price of $25.48 and a two-hundred day moving average price of $27.77. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.86 billion, a PE ratio of 17.55 and a beta of 1.07. AssetMark Financial has a 52 week low of $22.58 and a 52 week high of $33.00.

Institutional Investors Weigh In On AssetMark Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of AssetMark Financial by 5.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,924,875 shares of the company’s stock worth $86,752,000 after acquiring an additional 151,938 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of AssetMark Financial by 0.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,348,171 shares of the company’s stock worth $54,008,000 after acquiring an additional 19,619 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of AssetMark Financial by 4.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,346,527 shares of the company’s stock worth $44,044,000 after acquiring an additional 105,988 shares during the period. Vanguard Group Inc. grew its holdings in shares of AssetMark Financial by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,957,694 shares of the company’s stock worth $35,806,000 after acquiring an additional 33,941 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of AssetMark Financial by 12.5% in the 3rd quarter. Jennison Associates LLC now owns 1,719,808 shares of the company’s stock worth $43,133,000 after acquiring an additional 191,481 shares during the period. Institutional investors and hedge funds own 28.56% of the company’s stock.

About AssetMark Financial

AssetMark Financial Holdings, Inc provides wealth management and technology solutions in the United States. The company offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology to the financial adviser channel.