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

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

Other large investors also recently modified their holdings of the company. J.Safra Asset Management Corp lifted its stake in ASGN by 48.1% during the fourth 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 last quarter. Cim Investment Management Inc. purchased a new stake in shares of ASGN during the 3rd quarter worth approximately $205,000. Entropy Technologies LP purchased a new stake in shares of ASGN during the 4th quarter worth approximately $299,000. Cibc World Markets Corp acquired a new position in shares of ASGN in the 4th quarter valued at $337,000. Finally, Argent Capital Management LLC grew its position in shares of ASGN by 31.6% in the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider's stock valued at $1,158,000 after buying an additional 3,339 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ASGN shares. StockNews.com downgraded shares of ASGN from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Canaccord Genuity Group reissued a "hold" rating and issued a $55.00 target price (down from $115.00) on shares of ASGN in a research report on Friday, April 25th. Truist Financial dropped their price target on ASGN from $105.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group decreased their price objective on ASGN from $56.00 to $54.00 and set a "sell" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, ASGN currently has a consensus rating of "Hold" and a consensus target price of $74.40.

ASGN Stock Performance

Shares of ASGN stock traded up $1.29 during trading hours on Friday, hitting $52.00. 621,471 shares of the company were exchanged, compared to its average volume of 395,602. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $61.87 and a 200-day moving average of $78.61. ASGN Incorporated has a 1 year low of $47.64 and a 1 year high of $105.67. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 13.54 and a beta of 1.08.

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). ASGN had a return on equity of 13.22% and a net margin of 4.27%. The firm had revenue of $968.30 million for the quarter, compared to analysts' expectations of $971.00 million. During the same quarter in the previous year, the company posted $1.16 EPS. The firm's quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts expect that ASGN Incorporated will post 5.15 EPS for the current fiscal year.

ASGN Company 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.