AssetMark Financial Holdings, Inc. (NYSE:AMK - Free Report) - Equities research analysts at William Blair dropped their Q1 2024 earnings per share estimates for AssetMark Financial in a research report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now anticipates that the company will earn $0.53 per share for the quarter, down from their prior forecast of $0.54. The consensus estimate for AssetMark Financial's current full-year earnings is $2.42 per share. William Blair also issued estimates for AssetMark Financial's Q3 2024 earnings at $0.68 EPS, FY2024 earnings at $2.52 EPS and FY2025 earnings at $2.67 EPS.
AssetMark Financial (NYSE:AMK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $158.18 million during 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%.
Separately, Raymond James increased their target price on AssetMark Financial from $39.00 to $41.00 and gave the stock a "strong-buy" rating in a research report on Thursday.
View Our Latest Report on AMK
AssetMark Financial Price Performance
Shares of NYSE:AMK traded down $0.75 during trading on Friday, hitting $36.12. 219,729 shares of the company's stock were exchanged, compared to its average volume of 194,968. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. AssetMark Financial has a 52-week low of $22.92 and a 52-week high of $37.54. The business's 50-day simple moving average is $34.42 and its 200 day simple moving average is $29.51. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 22.02 and a beta of 1.11.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of AssetMark Financial in the 1st quarter worth $27,000. Citigroup Inc. boosted its position in shares of AssetMark Financial by 70.8% in the 1st quarter. Citigroup Inc. now owns 1,192 shares of the company's stock worth $37,000 after purchasing an additional 494 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of AssetMark Financial in the 3rd quarter worth $81,000. State of Wyoming acquired a new stake in shares of AssetMark Financial in the 4th quarter worth $113,000. Finally, Royal Bank of Canada boosted its position in shares of AssetMark Financial by 89.5% in the 4th quarter. Royal Bank of Canada now owns 5,218 shares of the company's stock worth $156,000 after purchasing an additional 2,465 shares in the last quarter. 28.64% of the stock is currently owned by hedge funds and other institutional investors.
About AssetMark Financial
(
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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.
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