Bank of New York Mellon Corp Lowers Holdings in ASGN Inc (ASGN)

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Bank of New York Mellon Corp decreased its position in shares of ASGN Inc (NYSE:ASGN) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 749,072 shares of the business services provider’s stock after selling 38,402 shares during the period. Bank of New York Mellon Corp owned approximately 1.43% of ASGN worth $40,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors bought a new position in shares of ASGN during the third quarter valued at about $250,613,000. BlackRock Inc. grew its stake in shares of ASGN by 6.9% during the third quarter. BlackRock Inc. now owns 7,649,596 shares of the business services provider’s stock valued at $603,783,000 after buying an additional 496,422 shares during the last quarter. Morgan Stanley grew its stake in shares of ASGN by 196.1% during the third quarter. Morgan Stanley now owns 524,728 shares of the business services provider’s stock valued at $41,416,000 after buying an additional 347,504 shares during the last quarter. Pathstone Family Office LLC bought a new position in shares of ASGN during the third quarter valued at about $17,670,000. Finally, Retirement Systems of Alabama bought a new position in shares of ASGN during the fourth quarter valued at about $7,663,000. Institutional investors and hedge funds own 88.99% of the company’s stock.

NYSE ASGN opened at $64.94 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $3.42 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.53 and a beta of 1.96. ASGN Inc has a 1 year low of $51.05 and a 1 year high of $94.25.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, February 13th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.01). The business had revenue of $929.65 million during the quarter, compared to the consensus estimate of $929.80 million. ASGN had a return on equity of 20.88% and a net margin of 4.64%. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. As a group, analysts anticipate that ASGN Inc will post 4.71 EPS for the current fiscal year.

ASGN has been the topic of several recent analyst reports. ValuEngine cut ASGN from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Zacks Investment Research cut ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. Credit Suisse Group cut their target price on ASGN from $78.00 to $62.00 in a research note on Friday, December 28th. BMO Capital Markets reissued a “buy” rating and issued a $77.00 target price on shares of ASGN in a research note on Monday, January 21st. Finally, Jefferies Financial Group initiated coverage on ASGN in a research note on Tuesday, March 12th. They issued a “buy” rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $73.29.

In other ASGN news, Director William E. Brock sold 1,480 shares of ASGN stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $61.72, for a total transaction of $91,345.60. Following the sale, the director now directly owns 17,513 shares of the company’s stock, valued at approximately $1,080,902.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.90% of the company’s stock.

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ASGN Company Profile

ASGN Incorporated provides IT and professional services in the technology, creative/digital, engineering, and life sciences fields across commercial and government sectors in the United State and internationally. The company operates through Apex, Oxford, and ECS segments. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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Institutional Ownership by Quarter for ASGN (NYSE:ASGN)

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