AssetMark Financial (NYSE:AMK) Rating Lowered to Neutral at JPMorgan Chase & Co.

AssetMark Financial (NYSE:AMK) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They currently have a $37.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.14% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. William Blair downgraded AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday. Raymond James raised 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 report on Thursday, April 11th.

AssetMark Financial Price Performance

NYSE:AMK opened at $33.90 on Friday. AssetMark Financial has a 12-month low of $22.92 and a 12-month high of $37.54. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 20.67 and a beta of 1.11. The company’s 50-day moving average is $35.01 and its two-hundred day moving average is $30.11. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07.

AssetMark Financial (NYSE:AMK) 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 firm had revenue of $158.18 million for the quarter, compared to analyst estimates of $188.88 million. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. Research analysts expect that AssetMark Financial will post 2.46 EPS for the current year.

Hedge Funds Weigh In On AssetMark Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMK. Hodges Capital Management Inc. purchased a new position in AssetMark Financial in the first quarter valued at approximately $2,124,000. TT International Asset Management LTD purchased a new position in shares of AssetMark Financial in the 4th quarter valued at $305,000. Azora Capital LP lifted its holdings in shares of AssetMark Financial by 32.8% during the 4th quarter. Azora Capital LP now owns 465,355 shares of the company’s stock valued at $13,937,000 after acquiring an additional 114,965 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in AssetMark Financial by 70.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 22,565 shares of the company’s stock worth $676,000 after purchasing an additional 9,354 shares during the period. Finally, Quest Partners LLC purchased a new stake in AssetMark Financial during the 4th quarter worth $557,000. 28.64% of the stock is owned by institutional investors and hedge funds.

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.