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

Jennison Associates LLC raised its stake in AssetMark Financial Holdings, Inc. (NYSE:AMK) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,853,384 shares of the company’s stock after purchasing an additional 133,576 shares during the quarter. Jennison Associates LLC owned approximately 2.50% of AssetMark Financial worth $55,509,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in AssetMark Financial in the third quarter valued at approximately $81,000. SG Americas Securities LLC bought a new position in AssetMark Financial in the fourth quarter valued at approximately $169,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in AssetMark Financial by 40.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock valued at $178,000 after purchasing an additional 2,059 shares in the last quarter. Arizona State Retirement System bought a new position in AssetMark Financial in the fourth quarter valued at approximately $218,000. Finally, Hsbc Holdings PLC bought a new position in AssetMark Financial in the third quarter valued at approximately $231,000. 28.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Raymond James lifted their target price on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 11th.

AssetMark Financial Stock Performance

NYSE:AMK opened at $35.14 on Wednesday. The stock has a market cap of $2.61 billion, a P/E ratio of 21.43 and a beta of 1.11. The stock has a 50 day simple moving average of $34.86 and a 200 day simple moving average of $30.00. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07. 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 released its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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%. Research analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.46 earnings per share for the current year.

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.