Q1 2024 Earnings Estimate for AssetMark Financial Holdings, Inc. Issued By William Blair (NYSE:AMK)

AssetMark Financial Holdings, Inc. (NYSE:AMK) – Equities research analysts at William Blair reduced their Q1 2024 earnings per share (EPS) estimates for AssetMark Financial in a report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now forecasts that the company will post earnings per share of $0.53 for the quarter, down from their previous forecast of $0.54. The consensus estimate for AssetMark Financial’s current full-year earnings is $2.42 per share. William Blair also issued estimates for AssetMark Financial’s Q3 2024 earnings at $0.68 EPS, FY2024 earnings at $2.52 EPS and FY2025 earnings at $2.67 EPS.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. The firm had revenue of $158.18 million during the quarter, compared to the consensus estimate of $188.88 million.

Separately, Raymond James raised their price target on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a report on Thursday.

AssetMark Financial Price Performance

Shares of NYSE:AMK opened at $36.12 on Friday. AssetMark Financial has a 1-year low of $22.92 and a 1-year high of $37.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The business has a fifty day moving average price of $34.42 and a 200-day moving average price of $29.51. The company has a market capitalization of $2.69 billion, a PE ratio of 22.02 and a beta of 1.11.

Institutional Investors Weigh In On AssetMark Financial

Institutional investors have recently modified their holdings of the business. Lmcg Investments LLC purchased a new stake in shares of AssetMark Financial during the third quarter valued at $915,000. Hsbc Holdings PLC purchased a new stake in shares of AssetMark Financial during the third quarter valued at $231,000. Swiss National Bank boosted its position in shares of AssetMark Financial by 1.1% during the third quarter. Swiss National Bank now owns 56,900 shares of the company’s stock valued at $1,427,000 after buying an additional 600 shares during the last quarter. FMR LLC boosted its position in shares of AssetMark Financial by 10.3% during the third quarter. FMR LLC now owns 105,898 shares of the company’s stock valued at $2,656,000 after buying an additional 9,932 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of AssetMark Financial by 12.5% during the third quarter. Jennison Associates LLC now owns 1,719,808 shares of the company’s stock valued at $43,133,000 after buying an additional 191,481 shares during the last quarter. 28.64% of the stock is owned by hedge funds and other institutional investors.

AssetMark Financial Company Profile

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