AssetMark Financial Holdings, Inc. to Post Q2 2024 Earnings of $0.61 Per Share, William Blair Forecasts (NYSE:AMK)

AssetMark Financial Holdings, Inc. (NYSE:AMK) – Research analysts at William Blair lifted their Q2 2024 earnings per share (EPS) estimates for AssetMark Financial in a research note 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 previous forecast of $0.57. The consensus estimate for AssetMark Financial’s current full-year earnings is $2.46 per share.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.74% and a net margin of 17.38%.

Separately, Raymond James lifted their price target 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.

AssetMark Financial Trading Down 0.3 %

NYSE:AMK opened at $35.18 on Monday. The firm has a market cap of $2.62 billion, a P/E ratio of 21.45 and a beta of 1.11. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07. The stock’s 50 day simple moving average is $34.60 and its 200-day simple moving average is $29.71. AssetMark Financial has a 12-month low of $22.92 and a 12-month high of $37.54.

Institutional Trading of AssetMark Financial

A number of institutional investors have recently bought and sold shares of AMK. Jennison Associates LLC lifted its position in shares of AssetMark Financial by 12.5% in the third quarter. Jennison Associates LLC now owns 1,719,808 shares of the company’s stock valued at $43,133,000 after acquiring an additional 191,481 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in AssetMark Financial by 47.8% in the first quarter. Dimensional Fund Advisors LP now owns 585,865 shares of the company’s stock valued at $18,423,000 after purchasing an additional 189,590 shares during the last quarter. Azora Capital LP increased its stake in AssetMark Financial by 32.8% in the fourth quarter. Azora Capital LP now owns 465,355 shares of the company’s stock valued at $13,937,000 after purchasing an additional 114,965 shares during the last quarter. Phocas Financial Corp. acquired a new position in AssetMark Financial in the fourth quarter valued at $3,248,000. Finally, Price T Rowe Associates Inc. MD increased its stake in AssetMark Financial by 4.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,346,527 shares of the company’s stock valued at $44,044,000 after purchasing an additional 105,988 shares during the last quarter. 28.64% of the stock is currently 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.