AssetMark Financial (NYSE:AMK) Posts Earnings Results, Beats Estimates By $0.03 EPS

AssetMark Financial (NYSE:AMKGet Rating) issued its quarterly earnings results on Wednesday. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03, Fidelity Earnings reports. AssetMark Financial had a net margin of 12.38% and a return on equity of 6.25%. During the same quarter in the prior year, the business posted $0.27 EPS.

AssetMark Financial Stock Up 0.3 %

Shares of AMK stock traded up $0.07 during mid-day trading on Friday, hitting $20.16. The stock had a trading volume of 66,504 shares, compared to its average volume of 81,561. The firm has a market capitalization of $1.48 billion, a P/E ratio of 20.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 3.05. AssetMark Financial has a 12-month low of $16.88 and a 12-month high of $29.54. The firm’s 50-day moving average is $19.01 and its two-hundred day moving average is $20.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on AssetMark Financial from $32.00 to $27.00 in a report on Monday, May 2nd. William Blair reiterated an “outperform” rating on shares of AssetMark Financial in a research report on Monday, July 25th. Finally, Raymond James cut their price target on shares of AssetMark Financial from $36.00 to $30.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 12th.

Insider Activity at AssetMark Financial

In other AssetMark Financial news, CEO Natalie Grace Wolfsen sold 3,227 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $20.00, for a total transaction of $64,540.00. Following the transaction, the chief executive officer now owns 419,498 shares of the company’s stock, valued at approximately $8,389,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Gary G. Zyla sold 1,585 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $20.00, for a total value of $31,700.00. Following the completion of the transaction, the chief financial officer now directly owns 99,431 shares of the company’s stock, valued at approximately $1,988,620. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Natalie Grace Wolfsen sold 3,227 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $20.00, for a total value of $64,540.00. Following the sale, the chief executive officer now directly owns 419,498 shares in the company, valued at approximately $8,389,960. The disclosure for this sale can be found here. Insiders sold 7,995 shares of company stock worth $159,076 over the last three months. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of AssetMark Financial

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position 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 worth $2,081,000 after buying an additional 2,116 shares during the last quarter. Engineers Gate Manager LP grew its holdings in AssetMark Financial by 14.1% in the first quarter. Engineers Gate Manager LP now owns 19,381 shares of the company’s stock worth $431,000 after purchasing an additional 2,394 shares during the last quarter. Invesco Ltd. increased its position in shares of AssetMark Financial by 6.1% during the first quarter. Invesco Ltd. now owns 50,882 shares of the company’s stock worth $1,132,000 after purchasing an additional 2,926 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AssetMark Financial by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 136,447 shares of the company’s stock valued at $3,036,000 after purchasing an additional 3,552 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of AssetMark Financial by 9.0% in the 1st quarter. Swiss National Bank now owns 43,500 shares of the company’s stock worth $968,000 after purchasing an additional 3,600 shares in the last quarter. 26.10% of the stock is owned by hedge funds and other institutional investors.

AssetMark Financial Company Profile

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AssetMark Financial Holdings, Inc provides wealth management and technology solutions 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 to the financial adviser channel. The company provides integrated technology platform for advisers for accessing a range of automated processes, including new account opening, portfolio construction, streamlined financial planning, customer billing, investor reporting, progress to goal analysis, and client activity tracking; advisory services; and curated investment platform.

Further Reading

Earnings History for AssetMark Financial (NYSE:AMK)

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