Q1 2023 EPS Estimates for AssetMark Financial Holdings, Inc. (NYSE:AMK) Cut by Analyst

Posted by on Apr 24th, 2023

AssetMark Financial Holdings, Inc. (NYSE:AMK – Get Rating) – Stock analysts at William Blair cut their Q1 2023 EPS estimates for shares of AssetMark Financial in a research note issued to investors on Wednesday, April 19th. William Blair analyst J. Schmitt now forecasts that the company will post earnings per share of $0.54 for the quarter, down from their prior forecast of $0.55. The consensus estimate for AssetMark Financial’s current full-year earnings is $2.07 per share.

A number of other brokerages also recently issued reports on AMK. Credit Suisse Group raised their price target on shares of AssetMark Financial from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. JPMorgan Chase & Co. upgraded shares of AssetMark Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $24.00 to $32.00 in a research note on Monday, January 23rd. Finally, Raymond James increased their price objective on shares of AssetMark Financial from $32.00 to $37.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 11th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $31.00.

AssetMark Financial Stock Performance

Shares of NYSE AMK opened at $32.27 on Monday. The firm’s 50-day moving average price is $30.39 and its 200-day moving average price is $25.78. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.39 billion, a PE ratio of 23.05 and a beta of 1.03. AssetMark Financial has a 52-week low of $16.88 and a 52-week high of $33.00.

Institutional Investors Weigh In On AssetMark Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Seneca House Advisors bought a new stake in shares of AssetMark Financial during the first quarter valued at approximately $7,532,000. Blair William & Co. IL bought a new stake in shares of AssetMark Financial during the fourth quarter valued at approximately $2,631,000. Price T Rowe Associates Inc. MD raised its position in shares of AssetMark Financial by 4.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,346,527 shares of the company’s stock valued at $44,044,000 after buying an additional 105,988 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in shares of AssetMark Financial during the third quarter valued at approximately $1,756,000. Finally, Jennison Associates LLC raised its position in shares of AssetMark Financial by 8.2% during the third quarter. Jennison Associates LLC now owns 929,548 shares of the company’s stock valued at $17,001,000 after buying an additional 70,202 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

AssetMark Financial Company Profile

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AssetMark Financial Holdings, Inc provides wealth management and technology solutions. The company was founded by Ronald Dennis Cordes, Brian O’Toole and Richard Steiny in 1996 and is headquartered in Concord, CA.

Further Reading

Earnings History and Estimates for AssetMark Financial (NYSE:AMK)

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