Raymond James Boosts AssetMark Financial (NYSE:AMK) Price Target to $41.00

AssetMark Financial (NYSE:AMK) had its target price increased by research analysts at Raymond James from $39.00 to $41.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 10.96% from the stock’s previous close.

AssetMark Financial Trading Up 2.5 %

NYSE AMK traded up $0.90 during trading hours on Thursday, hitting $36.95. The company’s stock had a trading volume of 131,365 shares, compared to its average volume of 192,225. AssetMark Financial has a twelve month low of $22.92 and a twelve month high of $37.54. The firm has a market capitalization of $2.75 billion, a P/E ratio of 22.53 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 stock has a fifty day moving average of $34.21 and a 200 day moving average of $29.38.

AssetMark Financial (NYSE:AMK) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. The business had revenue of $158.18 million during the quarter, compared to analysts’ expectations of $188.88 million. Equities research analysts forecast that AssetMark Financial will post 2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AssetMark Financial

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of AssetMark Financial by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,010,408 shares of the company’s stock valued at $75,501,000 after buying an additional 85,533 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of AssetMark Financial by 0.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,348,171 shares of the company’s stock valued at $54,008,000 after purchasing an additional 19,619 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of AssetMark Financial by 4.7% in the 2nd 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 period. Vanguard Group Inc. raised its holdings in AssetMark Financial by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,116,522 shares of the company’s stock worth $63,390,000 after buying an additional 31,156 shares during the period. Finally, Jennison Associates LLC lifted its stake in AssetMark Financial by 7.8% in the fourth quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock valued at $55,509,000 after buying an additional 133,576 shares in the last quarter. 28.64% of the stock is currently owned by institutional investors and hedge funds.

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.