Q2 2024 EPS Estimates for AssetMark Financial Holdings, Inc. Boosted by Analyst (NYSE:AMK)

AssetMark Financial Holdings, Inc. (NYSE:AMK) – Analysts at William Blair raised their Q2 2024 EPS estimates for AssetMark Financial in a research report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now expects that the company will post earnings of $0.61 per share for the quarter, up from their previous forecast of $0.57. The consensus estimate for AssetMark Financial’s current full-year earnings is $2.46 per share.

Separately, Raymond James boosted their price objective on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday.

AssetMark Financial Stock Down 2.0 %

AMK stock opened at $36.12 on Monday. The company has a market cap of $2.69 billion, a P/E ratio of 22.02 and a beta of 1.11. AssetMark Financial has a 52 week low of $22.92 and a 52 week high of $37.54. The company’s 50-day moving average price is $34.42 and its 200 day moving average price is $29.57. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $158.18 million for the quarter, compared to the consensus estimate of $188.88 million. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%.

Institutional Trading of AssetMark Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in shares of AssetMark Financial in the first quarter valued at about $27,000. Citigroup Inc. lifted its holdings in shares of AssetMark Financial by 70.8% in the first quarter. Citigroup Inc. now owns 1,192 shares of the company’s stock valued at $37,000 after purchasing an additional 494 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of AssetMark Financial in the third quarter valued at about $81,000. State of Wyoming purchased a new stake in shares of AssetMark Financial in the fourth quarter valued at about $113,000. Finally, Royal Bank of Canada lifted its holdings in shares of AssetMark Financial by 89.5% in the fourth quarter. Royal Bank of Canada now owns 5,218 shares of the company’s stock valued at $156,000 after purchasing an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

About AssetMark Financial

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.