Jennison Associates LLC Acquires 133,576 Shares of AssetMark Financial Holdings, Inc. (NYSE:AMK)

Jennison Associates LLC increased its holdings in AssetMark Financial Holdings, Inc. (NYSE:AMK) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,853,384 shares of the company’s stock after acquiring an additional 133,576 shares during the period. Jennison Associates LLC’s holdings in AssetMark Financial were worth $55,509,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMK. Quantbot Technologies LP bought a new position in shares of AssetMark Financial in the third quarter valued at approximately $81,000. SG Americas Securities LLC bought a new position in AssetMark Financial during the fourth quarter valued at $169,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AssetMark Financial by 40.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after acquiring an additional 2,059 shares during the period. Arizona State Retirement System bought a new position in shares of AssetMark Financial in the fourth quarter worth $218,000. Finally, Hsbc Holdings PLC bought a new position in shares of AssetMark Financial in the third quarter worth $231,000. 28.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, 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 report on Thursday, April 11th.

AssetMark Financial Stock Down 0.9 %

NYSE AMK opened at $35.14 on Wednesday. The business’s 50-day moving average is $34.86 and its 200 day moving average is $30.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The stock has a market capitalization of $2.61 billion, a PE ratio of 21.43 and a beta of 1.11. AssetMark Financial Holdings, Inc. has a 1 year low of $22.92 and a 1 year high of $37.54.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $158.18 million for the quarter, compared to analysts’ expectations of $188.88 million. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. Sell-side analysts forecast that AssetMark Financial Holdings, Inc. will post 2.46 earnings per share for the current year.

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.