Phocas Financial Corp. Invests $3.25 Million in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Phocas Financial Corp. acquired a new position in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 108,464 shares of the company’s stock, valued at approximately $3,248,000. Phocas Financial Corp. owned approximately 0.15% of AssetMark Financial as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System acquired a new stake in shares of AssetMark Financial in the 4th quarter valued at about $218,000. SG Americas Securities LLC purchased a new stake in AssetMark Financial during the 4th quarter valued at approximately $169,000. Vanguard Group Inc. raised its stake in AssetMark Financial by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,085,366 shares of the company’s stock valued at $52,301,000 after acquiring an additional 24,116 shares during the last quarter. Deutsche Bank AG raised its stake in AssetMark Financial by 16.7% during the 3rd quarter. Deutsche Bank AG now owns 11,779 shares of the company’s stock valued at $295,000 after acquiring an additional 1,687 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in AssetMark Financial by 28.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,127 shares of the company’s stock valued at $329,000 after acquiring an additional 2,913 shares during the last quarter. 28.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James upped their price objective on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a research note on Thursday.

AssetMark Financial Stock Performance

Shares of AMK stock opened at $36.12 on Monday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 22.02 and a beta of 1.11. The stock has a 50 day simple moving average of $34.42 and a 200-day simple moving average of $29.57. AssetMark Financial Holdings, Inc. has a 12-month low of $22.92 and a 12-month high of $37.54. 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 issued 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 business had revenue of $158.18 million during the quarter, compared to the consensus estimate of $188.88 million. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. On average, equities analysts forecast that AssetMark Financial Holdings, Inc. will post 2.46 EPS 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.