Citigroup Inc. Cuts Holdings in ASGN Inc (ASGN)

Citigroup Inc. lowered its stake in ASGN Inc (NYSE:ASGN) by 35.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,775 shares of the business services provider’s stock after selling 13,199 shares during the quarter. Citigroup Inc.’s holdings in ASGN were worth $1,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors bought a new stake in shares of ASGN in the third quarter worth $250,613,000. Bank of New York Mellon Corp bought a new stake in shares of ASGN in the second quarter worth $57,585,000. BlackRock Inc. lifted its position in shares of ASGN by 6.9% in the third quarter. BlackRock Inc. now owns 7,649,596 shares of the business services provider’s stock worth $603,783,000 after purchasing an additional 496,422 shares in the last quarter. Morgan Stanley lifted its position in shares of ASGN by 196.1% in the third quarter. Morgan Stanley now owns 524,728 shares of the business services provider’s stock worth $41,416,000 after purchasing an additional 347,504 shares in the last quarter. Finally, Pathstone Family Office LLC bought a new stake in shares of ASGN in the third quarter worth $17,670,000. 89.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on ASGN. ValuEngine lowered shares of ASGN from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Zacks Investment Research lowered shares of ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. BMO Capital Markets reissued a “buy” rating and issued a $77.00 price objective on shares of ASGN in a research report on Monday, January 21st. Jefferies Financial Group began coverage on shares of ASGN in a research report on Tuesday, March 12th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Credit Suisse Group cut their price objective on shares of ASGN from $78.00 to $62.00 in a research report on Friday, December 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $73.29.

In related news, Director William E. Brock sold 1,480 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $61.72, for a total transaction of $91,345.60. Following the transaction, the director now directly owns 17,513 shares in the company, valued at $1,080,902.36. The sale was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is currently owned by insiders.

Shares of ASGN opened at $64.56 on Friday. The firm has a market cap of $3.40 billion, a P/E ratio of 14.74, a PEG ratio of 1.48 and a beta of 1.96. ASGN Inc has a 1-year low of $51.05 and a 1-year high of $94.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.23 and a current ratio of 2.23.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, February 13th. The business services provider reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.01). The firm had revenue of $929.65 million for the quarter, compared to analyst estimates of $929.80 million. ASGN had a return on equity of 20.88% and a net margin of 4.64%. ASGN’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, analysts predict that ASGN Inc will post 4.69 earnings per share for the current year.

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About ASGN

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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