Rhumbline Advisers Boosts Stock Position in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Rhumbline Advisers raised its position in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) by 20.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,308 shares of the company’s stock after purchasing an additional 6,440 shares during the quarter. Rhumbline Advisers’ holdings in AssetMark Financial were worth $1,289,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in AssetMark Financial by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 13,770 shares of the company’s stock valued at $476,000 after purchasing an additional 1,124 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AssetMark Financial by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,489 shares of the company’s stock worth $5,136,000 after buying an additional 2,152 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of AssetMark Financial by 6,360.0% in the first quarter. Acadian Asset Management LLC now owns 2,584 shares of the company’s stock worth $91,000 after buying an additional 2,544 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of AssetMark Financial by 57.3% in the first quarter. Quadrature Capital Ltd now owns 12,790 shares of the company’s stock worth $452,000 after buying an additional 4,660 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of AssetMark Financial by 54.8% in the fourth quarter. Victory Capital Management Inc. now owns 14,614 shares of the company’s stock worth $438,000 after buying an additional 5,173 shares during the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

AssetMark Financial Price Performance

Shares of AMK opened at $35.24 on Friday. AssetMark Financial Holdings, Inc. has a 52 week low of $22.92 and a 52 week high of $37.54. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 18.45 and a beta of 1.10. The stock’s 50-day moving average price is $34.89 and its 200-day moving average price is $34.76.

AssetMark Financial (NYSE:AMK) last issued its earnings results on Thursday, July 18th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). AssetMark Financial had a return on equity of 13.08% and a net margin of 19.43%. The company had revenue of $198.49 million during the quarter, compared to analysts’ expectations of $193.28 million. As a group, equities analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current fiscal year.

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.