Allspring Global Investments Holdings LLC Sells 10,108 Shares of AssetMark Financial Holdings, Inc. (NYSE:AMK)

Allspring Global Investments Holdings LLC reduced its stake in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) by 22.7% in the fourth quarter, Holdings Channel reports. The fund owned 34,329 shares of the company’s stock after selling 10,108 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AssetMark Financial were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of AssetMark Financial by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,085,366 shares of the company’s stock valued at $52,301,000 after acquiring an additional 24,116 shares during the period. Jennison Associates LLC boosted its holdings in 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 buying an additional 191,481 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in AssetMark Financial by 14.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 787,960 shares of the company’s stock worth $19,762,000 after buying an additional 101,707 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in AssetMark Financial by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 169,337 shares of the company’s stock worth $4,247,000 after buying an additional 7,842 shares during the period. Finally, Mcmorgan & Co. LLC boosted its holdings in AssetMark Financial by 19.3% in the 3rd quarter. Mcmorgan & Co. LLC now owns 128,863 shares of the company’s stock worth $3,232,000 after buying an additional 20,837 shares during the period. 28.64% of the stock is owned by institutional investors.

AssetMark Financial Stock Down 0.9 %

AMK opened at $35.14 on Wednesday. The company has a 50 day moving average of $34.86 and a 200 day moving average of $30.00. The company has a market cap of $2.61 billion, a PE ratio of 21.43 and a beta of 1.11. AssetMark Financial Holdings, Inc. has a 12 month low of $22.92 and a 12 month high of $37.54. 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 the consensus estimate of $0.52 by $0.02. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. The company had revenue of $158.18 million during the quarter, compared to the consensus estimate of $188.88 million. On average, sell-side analysts expect that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James raised 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, April 11th.

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.