Principal Financial Group Inc. Increases Stock Position in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Principal Financial Group Inc. raised its stake in shares of AssetMark Financial Holdings, Inc. (NYSE:AMKFree Report) by 45.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,646 shares of the company’s stock after purchasing an additional 3,980 shares during the quarter. Principal Financial Group Inc.’s holdings in AssetMark Financial were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AMK. Jennison Associates LLC lifted its position in AssetMark Financial by 7.8% in the 4th quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock worth $55,509,000 after buying an additional 133,576 shares during the last quarter. Azora Capital LP lifted its holdings in shares of AssetMark Financial by 32.8% in the 4th quarter. Azora Capital LP now owns 465,355 shares of the company’s stock worth $13,937,000 after acquiring an additional 114,965 shares during the last quarter. Phocas Financial Corp. purchased a new stake in shares of AssetMark Financial in the 4th quarter valued at $3,248,000. Dimensional Fund Advisors LP grew its holdings in shares of AssetMark Financial by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 943,396 shares of the company’s stock valued at $28,257,000 after purchasing an additional 98,444 shares during the last quarter. Finally, Hodges Capital Management Inc. purchased a new position in AssetMark Financial in the 1st quarter worth $2,124,000. Hedge funds and other institutional investors own 28.64% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael Kim sold 9,445 shares of AssetMark Financial stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $34.40, for a total transaction of $324,908.00. Following the sale, the chief executive officer now owns 355,332 shares of the company’s stock, valued at approximately $12,223,420.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AssetMark Financial news, insider Esi Minta-Jacobs sold 2,529 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $34.40, for a total transaction of $86,997.60. Following the completion of the transaction, the insider now owns 66,766 shares of the company’s stock, valued at $2,296,750.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Kim sold 9,445 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $34.40, for a total transaction of $324,908.00. Following the completion of the sale, the chief executive officer now directly owns 355,332 shares in the company, valued at $12,223,420.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,251 shares of company stock worth $1,350,234. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Get Our Latest Stock Analysis on AssetMark Financial

AssetMark Financial Stock Up 0.3 %

Shares of NYSE:AMK opened at $34.50 on Friday. AssetMark Financial Holdings, Inc. 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 4.65 and a quick ratio of 4.65. The stock’s 50-day moving average is $34.15 and its 200 day moving average is $33.35. The company has a market cap of $2.57 billion, a PE ratio of 18.06 and a beta of 1.10.

AssetMark Financial (NYSE:AMKGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $190.27 million for the quarter, compared to analysts’ expectations of $143.91 million. AssetMark Financial had a return on equity of 12.93% and a net margin of 19.92%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.44 EPS for the current year.

AssetMark Financial Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for AssetMark Financial (NYSE:AMK)

Receive News & Ratings for AssetMark Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AssetMark Financial and related companies with MarketBeat.com's FREE daily email newsletter.