Q2 2024 EPS Estimates for AssetMark Financial Holdings, Inc. Lifted by Analyst (NYSE:AMK)

AssetMark Financial Holdings, Inc. (NYSE:AMK) – Equities researchers at William Blair lifted their Q2 2024 earnings estimates for AssetMark Financial in a research report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now expects that the company will post earnings of $0.61 per share for the quarter, up from their prior estimate of $0.57. The consensus estimate for AssetMark Financial’s current full-year earnings is $2.46 per share.

AssetMark Financial (NYSE:AMK) last announced its earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. The business had revenue of $158.18 million for the quarter, compared to analyst estimates of $188.88 million.

Separately, Raymond James lifted their target price on shares of 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 Stock Down 2.4 %

Shares of NYSE AMK opened at $35.27 on Monday. The company’s 50-day simple moving average is $34.52 and its 200-day simple moving average is $29.64. AssetMark Financial has a 52-week low of $22.92 and a 52-week high of $37.54. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 21.51 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.

Institutional Trading of AssetMark Financial

Several large investors have recently bought and sold shares of AMK. Swiss National Bank grew its stake in AssetMark Financial by 9.0% during the 1st quarter. Swiss National Bank now owns 43,500 shares of the company’s stock valued at $968,000 after acquiring an additional 3,600 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of AssetMark Financial by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 93,557 shares of the company’s stock valued at $2,081,000 after buying an additional 2,116 shares during the period. MetLife Investment Management LLC grew its stake in shares of AssetMark Financial by 57.4% in the 1st quarter. MetLife Investment Management LLC now owns 10,106 shares of the company’s stock valued at $225,000 after buying an additional 3,684 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of AssetMark Financial in the 1st quarter valued at approximately $321,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of AssetMark Financial by 13.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 235,527 shares of the company’s stock valued at $5,242,000 after buying an additional 27,346 shares during the period. Hedge funds and other institutional investors own 28.64% of the company’s stock.

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.