Federated Hermes Inc. Has $419,000 Holdings in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Federated Hermes Inc. increased its position in AssetMark Financial Holdings, Inc. (NYSE:AMK) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 13,975 shares of the company’s stock after acquiring an additional 385 shares during the period. Federated Hermes Inc.’s holdings in AssetMark Financial were worth $419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in AssetMark Financial during the third quarter valued at approximately $81,000. SG Americas Securities LLC purchased a new position in shares of AssetMark Financial during the 4th quarter valued at $169,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of AssetMark Financial by 40.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after acquiring an additional 2,059 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of AssetMark Financial during the fourth quarter worth $218,000. Finally, Hsbc Holdings PLC acquired a new stake in AssetMark Financial during the third quarter valued at $231,000. 28.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMK. JPMorgan Chase & Co. lowered AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, April 26th. Raymond James raised their price objective on shares of AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th. Finally, William Blair downgraded shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th.

AssetMark Financial Stock Performance

Shares of NYSE AMK opened at $33.96 on Friday. The business’s 50 day moving average is $35.19 and its two-hundred day moving average is $30.56. AssetMark Financial Holdings, Inc. has a 12 month low of $22.92 and a 12 month high of $37.54. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.53 billion, a P/E ratio of 17.78 and a beta of 1.11.

AssetMark Financial (NYSE:AMK) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $190.27 million for the quarter, compared to analyst estimates of $143.91 million. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. AssetMark Financial’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. On average, equities analysts expect that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current year.

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.