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AMK

AssetMark Financial

$25.64

0.09 (0.35%)

16:19
10/15/19
10/15
16:19
10/15/19
16:19

AssetMark Financial reports platform assets up 20.9% YoY at the end of September

AssetMark Financial Holdings,released its "AssetMark Monthly Knowledge" Report.Company highlights for the month of September 2019 include: Platform assets of $57.9B at the end of September, up 20.9% year-over-year;Net flows were $312 million in the month of September, down 24.3% year-over-year;AssetMark Trust Company client cash increased 48.3% year-over-year; Number of households increased 23.0% year-over-year to 159,496 at the end of September.

AMK AssetMark Financial
$25.64

0.09 (0.35%)

08/12/19
WBLR
08/12/19
INITIATION
WBLR
Market Perform
AssetMark Financial initiated with a Market Perform at William Blair
William Blair analyst Chris Shutler started AssetMark Financial with a Market Perform rating due to valuation. The analyst likes the company but prefers to wait for a more opportune time to buy the stock.
08/12/19
08/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mirum Pharmaceuticals (MIRM) initiated with an Outperform at Raymond James and Evercore ISI, as well as a Buy at Roth Capital, Citi, and Guggenheim. 2. Intra-Cellular (ITCI) initiated with a Buy at Jefferies. 3. Vicor Corporation (VICR) initiated with a Buy at Craig-Hallum. 4. AssetMark Financial (AMK) initiated with an Outperform at Raymond James, a Buy at Goldman Sachs, a Market Perform at William Blair, and a Neutral at JPMorgan. 5. DTE Energy (DTE) initiated with a Neutral at Mizuho. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/07/19
BMOC
10/07/19
INITIATION
BMOC
Market Perform
AssetMark Financial initiated with a Market Perform at BMO Capital
10/07/19
BMOC
10/07/19
INITIATION
BMOC
KKR, Victory Capital, Apollo Global top BMO Capital picks among asset managers
BMO Capital analyst James Fotheringham initiated 11 U.S. asset managers, selecting KKR (KKR), Victory Capital (VCTR), and Apollo Global (APO) as his "top picks" with Outperform ratings and respective price targets of $40, $33, and $52 per share. The analyst believes that investors are undervaluing KKR's performance fees reliability and also have yet to appropriately value its "meaningful" excess capital. Instead, Fotheringham believes that investors are too worried about the risks of recession and KKR's relatively larger balance sheet. For Victory Global, the analyst believes that the market is overly concerned with its balance sheet leverage and believes that the company's organic growth will outperform expectations because of its exposure to to higher-growth segments like ETF products and solutions-seeking investors. For Apollo Global, Fotheringham notes that investors are undervaluing its accelerating Fee Related Earnings growth and expects the stock to benefit from technical support related to "improved liquidity, broadened shareholder engagement, and index inclusions." As part of his research note, the analyst also started the following at Market Perform: Ares Management (ARES) with price target $31, Invesco (IVZ) with price target $18, Blackrock (BLK) with price target $44, AssetMark (AMK) with price target $24, Blackstone (BX) with price target of $44, Carlyle Group (CG) with price target of $23, and T. Rowe Price (TROW) with price target of $101. Fotheringham also initiated Franklin Resources (BEN) at Underperform with price target of $16, saying the market is overvaluing its management-fee related income amid continued outflows and magnified redemption risk as well as operating expense "inflexibility". The analyst warns that Franklin's U.S. and European retail channels are facing ongoing fee pressures and risk from active-to-passive rotation.

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