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Jennison Associates LLC Increases Its Holdings in AssetMark Financial Holdings, Inc.

Jennison Associates LLC Increases Its Holdings in AssetMark Financial Holdings, Inc.

The most recent Form 13F filing that Jennison Associates LLC has made with the SEC reveals that during the third quarter of 2018, the company increased its holdings in AssetMark Financial Holdings, Inc. (NYSE: AMK) by 8.2%. The company increased the total number of shares it owned at the end of the period to 929,548 by making an additional acquisition of 70,202 of its shares of stock during the period. The most recent disclosure that Jennison Associates LLC made with the SEC revealed that the company held approximately 1.26% of AssetMark Financial, which had a market value of $17,000,000 at the time of the disclosure.

Several well-known investors have recently made modifications to the number of shares of the company’s stock they own. The New York State Teachers Retirement System invested $30,000 in AssetMark Financial during the second quarter of the fiscal year. The system fronted the money for this investment. During the first three months of the year, Amalgamated Bank contributed approximately $49,000 to AssetMark Financial as part of a new investment in the company. Legal & General Group Plc increased the proportion of AssetMark Financial owned by 32.4% over the second quarter. Legal & General Group Plc now has a total of 7,099 shares of the company’s stock, which are worth a combined total of $134,000 after purchasing an additional 1,738 shares during the preceding quarter. Americas Securities LLC increased its stake in AssetMark Financial by purchasing an additional 152,000 shares during the second quarter, bringing the total number of shares it currently owns to 2,048,000. During the second quarter, American International Group Inc. increased the amount of AssetMark Financial stock owned by 11.6%, making this the final and most important point. American International Group Inc. now has 10,087 shares of the company’s stock, which are currently valued at $189,000. This is because the company made an additional purchase of 1,050 shares during the preceding quarter. There is currently a stake in the company owned by institutional investors, equaling 26.81% of the total shares.

AMK is the subject of reports that were recently published by a variety of different brokerage houses. Raymond James raised their price objective for AssetMark Financial from $30,000 to $32,000 in a research report published on January 11 and gave the company a rating of “strong buy.” In addition, the price target for the stock was raised from $30,000. In a research note released on Friday, November 11, TheStreet moved AssetMark Financial’s rating from a “c+” rating up to a “b” rating. This change occurred after the rating had previously been a “C.”

When trading for AMK began on Wednesday, the stock was priced at $24.87. The company has a price-to-earnings ratio of 20.39 and a score of 1.05; its current market value is $1.84 billion. Its 50-day moving average is $23.86, and its 200-day moving average is $21.02, respectively. The debt-to-equity ratio is 0.10, the current ratio is 3.72, and the quick ratio is also 3.72. The debt-to-equity, current, and quick ratios all come at the same value. AssetMark Financial Holdings, Inc. hit a low of $16.88 during the past year, while the company’s stock reached a high of $25.98 during the same period.

On November 1 of this year, AssetMark Financial (NYSE: AMK) released its most recent quarterly earnings report. The company reported earnings per share (EPS) for the period at $0.44, which is $0.07 higher than the consensus expectation of $0.37. The company’s most recent quarter’s revenue came in at $154.66 million, which is significantly higher than the consensus projection of $138.13 million for that quarter’s revenue. AssetMark Financial had a return on equity of 6.89% and a net margin of 15.06% for the company overall. According to the forecasts of stock market analysts, AssetMark Financial Holdings, Inc. will generate $1.59 per share in revenue this year.

AssetMark Financial Holdings, Inc., a company based in the United States, provides services in the fields of wealth management and technical solutions. An open-architecture product platform, client advice, asset allocation choices, practice management, support services, and technology are all provided to the financial adviser channel by this company. In addition to providing advisory services and a carefully selected investment platform, the company also provides an integrated technology platform. Financial advisers can access several automated processes through this platform, and the company also provides advisory services. Among these processes are the opening of new accounts, the construction of portfolios, the simplification of financial planning, the billing of customers, the reporting of investor activity, the analysis of goal progress, and the tracking of client activities.


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