AssetMark Financial (NYSE:AMK) Downgraded 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 note issued to investors on Friday, Briefing.com reports. They currently have a $37.00 target price on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.14% from the stock’s previous close.

Other analysts have also issued research reports about the stock. William Blair lowered shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday. Raymond James lifted their price objective 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 Stock Down 2.9 %

Shares of NYSE:AMK opened at $33.90 on Friday. AssetMark Financial has a 52 week low of $22.92 and a 52 week high of $37.54. The company has a market capitalization of $2.52 billion, a PE ratio of 20.67 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.84 and a current ratio of 3.84. The company has a 50 day moving average price of $35.01 and a two-hundred day moving average price of $30.11.

AssetMark Financial (NYSE:AMK) last posted 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. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. The business had revenue of $158.18 million during the quarter, compared to analysts’ expectations of $188.88 million. Analysts forecast that AssetMark Financial will post 2.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of AssetMark Financial in the third quarter valued at about $81,000. SG Americas Securities LLC bought a new stake in AssetMark Financial in the 4th quarter valued at about $169,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AssetMark Financial by 40.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after purchasing an additional 2,059 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of AssetMark Financial during the 4th quarter worth approximately $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of AssetMark Financial during the fourth quarter worth approximately $230,000. 28.64% of the stock is owned by institutional investors and hedge funds.

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.