AssetMark Financial (NYSE:AMK) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of AssetMark Financial (NYSE:AMK) from an overweight rating to a neutral rating in a research report released on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $37.00 price objective on the stock.

Several other research firms also recently commented on AMK. Raymond James lifted their price objective on AssetMark Financial from $39.00 to $41.00 and gave the stock a strong-buy rating in a report on Thursday, April 11th. William Blair cut shares of AssetMark Financial from an outperform rating to a market perform rating in a report on Thursday.

AssetMark Financial Trading Up 0.1 %

NYSE:AMK opened at $33.93 on Friday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 20.69 and a beta of 1.11. 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’s 50 day moving average price is $35.09 and its 200-day moving average price is $30.19. AssetMark Financial has a 52 week low of $22.92 and a 52 week high of $37.54.

AssetMark Financial (NYSE:AMK) last issued its earnings results on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $158.18 million for the quarter, compared to the consensus estimate of $188.88 million. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. On average, equities research analysts forecast that AssetMark Financial will post 2.46 earnings per share for the current fiscal year.

Institutional Trading of AssetMark Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of AssetMark Financial during the 3rd quarter valued at approximately $81,000. SG Americas Securities LLC bought a new position in shares of AssetMark Financial during the 4th quarter valued at approximately $169,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AssetMark Financial by 40.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock valued at $178,000 after acquiring an additional 2,059 shares during the period. Arizona State Retirement System bought a new position in shares of AssetMark Financial during the 4th quarter valued at approximately $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of AssetMark Financial during the 4th quarter valued at approximately $230,000. 28.64% of the stock is owned by hedge funds and other institutional investors.

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.