Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AssetMark Financial Holdings, Inc. (NYSE:AMK) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,027 shares of the company’s stock after purchasing an additional 925 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AssetMark Financial were worth $240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMK. Phocas Financial Corp. purchased a new position in shares of AssetMark Financial in the fourth quarter valued at about $3,248,000. Arizona State Retirement System purchased a new position in AssetMark Financial during the 4th quarter valued at about $218,000. SG Americas Securities LLC bought a new position in AssetMark Financial during the 4th quarter valued at approximately $169,000. Vanguard Group Inc. lifted its holdings in AssetMark Financial by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,085,366 shares of the company’s stock worth $52,301,000 after buying an additional 24,116 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of 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 last quarter. Institutional investors own 28.64% of the company’s stock.

Analyst Ratings Changes

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

AssetMark Financial Trading Up 0.1 %

AssetMark Financial stock opened at $33.99 on Tuesday. The business has a 50-day simple moving average of $35.18 and a two-hundred day simple moving average of $30.68. AssetMark Financial Holdings, Inc. has a 52-week low of $22.92 and a 52-week 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 17.80 and a beta of 1.11.

AssetMark Financial (NYSE:AMK) last released its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. The company had revenue of $190.27 million for the quarter, compared to the consensus estimate of $143.91 million. During the same period in the previous year, the business earned $0.53 earnings per share. AssetMark Financial’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts predict that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current year.

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.