Q1 2024 Earnings Estimate for AssetMark Financial Holdings, Inc. Issued By William Blair (NYSE:AMK)

AssetMark Financial Holdings, Inc. (NYSE:AMK) – Equities research analysts at William Blair reduced their Q1 2024 earnings per share (EPS) estimates for AssetMark Financial in a research note issued to investors 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 previous 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) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. The company had revenue of $158.18 million during the quarter, compared to the consensus estimate of $188.88 million.

Separately, Raymond James increased their target price on shares of AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a research report on Thursday.

AssetMark Financial Stock Performance

NYSE:AMK opened at $36.12 on Friday. The company has a market capitalization of $2.69 billion, a PE ratio of 22.02 and a beta of 1.11. The company has a 50 day simple moving average of $34.42 and a two-hundred day simple moving average of $29.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.84 and a current ratio of 3.84. AssetMark Financial has a fifty-two week low of $22.92 and a fifty-two week high of $37.54.

Institutional Trading of AssetMark Financial

Large investors have recently modified their holdings of the stock. Lmcg Investments LLC acquired a new stake in shares of AssetMark Financial during the 3rd quarter worth approximately $915,000. Hsbc Holdings PLC acquired a new stake in shares of AssetMark Financial during the 3rd quarter worth approximately $231,000. Swiss National Bank grew its position 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 buying an additional 600 shares during the period. FMR LLC grew its position in shares of AssetMark Financial by 10.3% during the 3rd quarter. FMR LLC now owns 105,898 shares of the company’s stock worth $2,656,000 after buying an additional 9,932 shares during the period. Finally, Jennison Associates LLC grew its position in shares of AssetMark Financial by 12.5% during the 3rd quarter. Jennison Associates LLC now owns 1,719,808 shares of the company’s stock worth $43,133,000 after buying an additional 191,481 shares during the period. Institutional investors and hedge funds own 28.64% of the company’s stock.

About AssetMark Financial

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.