AssetMark Financial Holdings, Inc. (NYSE:AMK) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in AssetMark Financial Holdings, Inc. (NYSE:AMK) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,975 shares of the company’s stock after acquiring an additional 385 shares during the quarter. Federated Hermes Inc.’s holdings in AssetMark Financial were worth $419,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AMK. Quantbot Technologies LP purchased a new stake in AssetMark Financial during the third quarter worth about $81,000. SG Americas Securities LLC acquired a new position in AssetMark Financial during the fourth quarter worth $169,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 in the last quarter. Arizona State Retirement System purchased a new position in shares of AssetMark Financial in the fourth quarter valued at $218,000. Finally, Hsbc Holdings PLC acquired a new position in shares of AssetMark Financial during the 3rd quarter worth $231,000. 28.64% of the stock is currently owned by hedge funds and other institutional investors.

AssetMark Financial Stock Performance

Shares of AMK opened at $33.96 on Friday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 17.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.84 and a current ratio of 3.84. AssetMark Financial Holdings, Inc. has a 1 year low of $22.92 and a 1 year high of $37.54. The company’s 50 day simple moving average is $35.19 and its 200 day simple moving average is $30.56.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. The business had revenue of $190.27 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current year.

Analyst Ratings Changes

AMK has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, April 26th. William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Finally, Raymond James raised their price target on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th.

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.