AssetMark Financial (NYSE:AMK) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of AssetMark Financial (NYSE:AMK) from an overweight rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $37.00 price target on the stock.

A number of other equities analysts have also weighed in on the stock. Raymond James upped their target price on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a strong-buy rating in a research note on Thursday, April 11th. William Blair cut AssetMark Financial from an outperform rating to a market perform rating in a research report on Thursday, April 25th.

AssetMark Financial Price Performance

AMK opened at $33.79 on Friday. The company has a fifty day simple moving average of $35.12 and a 200 day simple moving average of $30.34. 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 market cap of $2.51 billion, a P/E ratio of 20.60 and a beta of 1.11. AssetMark Financial has a 12 month low of $22.92 and a 12 month high of $37.54.

AssetMark Financial (NYSE:AMK) last released 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%. On average, research analysts expect that AssetMark Financial will post 2.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Lmcg Investments LLC bought a new stake in shares of AssetMark Financial during the 3rd quarter worth approximately $915,000. Jennison Associates LLC raised its position in AssetMark Financial by 7.8% during the fourth quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock worth $55,509,000 after acquiring an additional 133,576 shares in the last quarter. SG Americas Securities LLC acquired a new stake in AssetMark Financial in the fourth quarter valued at $169,000. Phocas Financial Corp. bought a new position in shares of AssetMark Financial in the 4th quarter valued at about $3,248,000. Finally, Hsbc Holdings PLC acquired a new position in shares of AssetMark Financial during the 3rd quarter worth about $231,000. Institutional investors own 28.64% of the company’s stock.

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.