Pinebridge Investments L.P. Increases Stake in ASGN Incorporated (NYSE:ASGN)

Pinebridge Investments L.P. grew its stake in ASGN Incorporated (NYSE:ASGN - Free Report) by 42.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,983 shares of the business services provider's stock after purchasing an additional 6,576 shares during the period. Pinebridge Investments L.P.'s holdings in ASGN were worth $1,832,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ASGN. Argent Capital Management LLC boosted its holdings in ASGN by 31.6% during the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock worth $1,158,000 after buying an additional 3,339 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of ASGN in the fourth quarter worth about $337,000. Entropy Technologies LP acquired a new stake in shares of ASGN during the 4th quarter valued at about $299,000. Cim Investment Management Inc. acquired a new stake in shares of ASGN during the 3rd quarter valued at about $205,000. Finally, J.Safra Asset Management Corp raised its holdings in ASGN by 48.1% in the 4th quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider's stock worth $36,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 95.36% of the company's stock.

ASGN Stock Down 0.8 %

ASGN stock opened at $51.35 on Monday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 13.37 and a beta of 1.20. The firm has a 50-day moving average of $63.75 and a two-hundred day moving average of $80.11. ASGN Incorporated has a 12 month low of $47.64 and a 12 month high of $105.67. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58.

ASGN (NYSE:ASGN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.03). The company had revenue of $968.30 million for the quarter, compared to analysts' expectations of $971.00 million. ASGN had a return on equity of 13.22% and a net margin of 4.27%. As a group, analysts forecast that ASGN Incorporated will post 5.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. StockNews.com lowered ASGN from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Canaccord Genuity Group reissued a "hold" rating and issued a $55.00 price target (down previously from $115.00) on shares of ASGN in a report on Friday. UBS Group decreased their price objective on shares of ASGN from $56.00 to $54.00 and set a "sell" rating on the stock in a report on Thursday. Finally, Truist Financial cut their target price on shares of ASGN from $105.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $74.40.

ASGN Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.

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