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

Jennison Associates LLC raised its stake in AssetMark Financial Holdings, Inc. (NYSE:AMK - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,853,384 shares of the company's stock after purchasing an additional 133,576 shares during the period. Jennison Associates LLC owned approximately 2.50% of AssetMark Financial worth $55,509,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lmcg Investments LLC bought a new stake in AssetMark Financial in the 3rd quarter valued at $915,000. SG Americas Securities LLC bought a new position in shares of AssetMark Financial during the 4th quarter worth about $169,000. Phocas Financial Corp. bought a new position in shares of AssetMark Financial during the 4th quarter worth about $3,248,000. Hsbc Holdings PLC bought a new position in shares of AssetMark Financial during the 3rd quarter worth about $231,000. Finally, Swiss National Bank lifted its holdings in shares of AssetMark Financial by 1.1% during the 3rd quarter. Swiss National Bank now owns 56,900 shares of the company's stock worth $1,427,000 after acquiring an additional 600 shares during the period. 28.64% of the stock is owned by institutional investors.

AssetMark Financial Price Performance

Shares of AssetMark Financial stock traded down $0.27 during mid-day trading on Wednesday, reaching $34.88. 183,361 shares of the stock were exchanged, compared to its average volume of 197,872. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 21.27 and a beta of 1.11. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $34.94 and a 200 day simple moving average of $30.07. AssetMark Financial Holdings, Inc. has a fifty-two week low of $22.92 and a fifty-two week high of $37.54.

AssetMark Financial (NYSE:AMK - Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share (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 net margin of 17.38% and a return on equity of 12.74%. On average, sell-side analysts predict that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Raymond James raised their price objective on shares of 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 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.