Allspring Global Investments Holdings LLC Decreases Stake in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Allspring Global Investments Holdings LLC cut its holdings in AssetMark Financial Holdings, Inc. (NYSE:AMKFree Report) by 38.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,188 shares of the company’s stock after selling 13,141 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AssetMark Financial were worth $750,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in AssetMark Financial by 1.2% during the third quarter. Vanguard Group Inc. now owns 2,085,366 shares of the company’s stock worth $52,301,000 after purchasing an additional 24,116 shares in the last quarter. Jennison Associates LLC boosted its position in AssetMark Financial by 7.8% during the fourth quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock worth $55,509,000 after purchasing an additional 133,576 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AssetMark Financial by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 943,396 shares of the company’s stock worth $28,257,000 after purchasing an additional 98,444 shares in the last quarter. Azora Capital LP boosted its position in AssetMark Financial by 32.8% during the fourth quarter. Azora Capital LP now owns 465,355 shares of the company’s stock worth $13,937,000 after purchasing an additional 114,965 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in AssetMark Financial by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,489 shares of the company’s stock worth $5,136,000 after purchasing an additional 2,152 shares in the last quarter. 28.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMK has been the topic of a number of research analyst reports. William Blair downgraded AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Friday, April 26th. Finally, Raymond James boosted their price target on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th.

Check Out Our Latest Stock Report on AMK

AssetMark Financial Stock Performance

NYSE AMK opened at $34.36 on Tuesday. AssetMark Financial Holdings, Inc. has a fifty-two week low of $22.92 and a fifty-two week high of $37.54. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 17.99 and a beta of 1.10. The business has a fifty day moving average of $34.16 and a 200-day moving average of $33.42. The company has a quick ratio of 4.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.07.

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

Insider Activity at AssetMark Financial

In related news, insider Esi Minta-Jacobs sold 2,529 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $34.40, for a total value of $86,997.60. Following the completion of the transaction, the insider now directly owns 66,766 shares in the company, valued at $2,296,750.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Esi Minta-Jacobs sold 2,529 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $34.40, for a total value of $86,997.60. Following the completion of the transaction, the insider now directly owns 66,766 shares in the company, valued at $2,296,750.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mukesh Mehta sold 8,880 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $305,472.00. Following the completion of the transaction, the executive vice president now owns 304,791 shares of the company’s stock, valued at $10,484,810.40. The disclosure for this sale can be found here. Over 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 insiders.

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.

Further Reading

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.