William Blair lowered shares of AssetMark Financial (NYSE:AMK – Free Report) from an outperform rating to a market perform rating in a research report sent to investors on Thursday, MarketBeat.com reports.
Separately, Raymond James upped their target price on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a strong-buy rating in a research note on Thursday, April 11th.
Check Out Our Latest Stock Analysis on AssetMark Financial
AssetMark Financial Price Performance
AssetMark Financial (NYSE:AMK – Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $158.18 million for the quarter, compared to analyst estimates of $188.88 million. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. As a group, equities analysts anticipate that AssetMark Financial will post 2.46 earnings per share for the current year.
Institutional Investors Weigh In On AssetMark Financial
Large investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of AssetMark Financial during the third quarter worth $81,000. SG Americas Securities LLC acquired a new stake in shares of AssetMark Financial during the fourth quarter worth $169,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AssetMark Financial by 40.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after purchasing an additional 2,059 shares during the period. Arizona State Retirement System acquired a new stake in shares of AssetMark Financial during the fourth quarter worth $218,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of AssetMark Financial during the fourth quarter worth $230,000. 28.64% of the stock is owned by institutional investors and hedge funds.
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.
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