SG Americas Securities LLC Decreases Stock Holdings in ASGN Incorporated (NYSE:ASGN)

SG Americas Securities LLC lessened its stake in ASGN Incorporated (NYSE:ASGN) by 64.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,002 shares of the business services provider’s stock after selling 12,885 shares during the period. SG Americas Securities LLC’s holdings in ASGN were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Reinhart Partners LLC. grew its holdings in shares of ASGN by 0.9% in the first quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock worth $57,440,000 after acquiring an additional 4,931 shares during the period. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of ASGN during the 1st quarter valued at about $512,000. Argent Capital Management LLC lifted its stake in shares of ASGN by 43.8% in the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock worth $830,000 after purchasing an additional 2,868 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of ASGN in the first quarter worth approximately $154,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 price target on shares of ASGN in a research report on Thursday, July 25th. Jefferies Financial Group lowered their target price on ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ASGN presently has a consensus rating of “Hold” and a consensus price target of $97.22.

ASGN Stock Performance

NYSE ASGN opened at $96.41 on Monday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.57. ASGN Incorporated has a twelve month low of $76.70 and a twelve month high of $106.42. The business has a 50-day moving average price of $92.27 and a 200-day moving average price of $94.30. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 22.32 and a beta of 1.40.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.03. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 EPS. As a group, equities research analysts predict that ASGN Incorporated will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arshad Matin sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $92.51, for a total transaction of $185,020.00. Following the completion of the transaction, the director now owns 11,645 shares in the company, valued at $1,077,278.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jonathan S. Holman sold 503 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total value of $45,496.35. Following the completion of the transaction, the director now owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arshad Matin sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $92.51, for a total value of $185,020.00. Following the sale, the director now directly owns 11,645 shares in the company, valued at $1,077,278.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

About ASGN

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.