BlueMountain Capital Management LLC Buys Shares of 10,464 ASGN Inc (ASGN)

BlueMountain Capital Management LLC bought a new stake in shares of ASGN Inc (NYSE:ASGN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,464 shares of the business services provider’s stock, valued at approximately $818,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of ASGN during the 2nd quarter valued at approximately $559,307,000. Dimensional Fund Advisors LP acquired a new stake in shares of ASGN during the 2nd quarter valued at approximately $166,294,000. FMR LLC acquired a new stake in shares of ASGN during the 2nd quarter valued at approximately $117,721,000. Wells Fargo & Company MN acquired a new stake in shares of ASGN during the 2nd quarter valued at approximately $92,244,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of ASGN during the 2nd quarter valued at approximately $57,703,000. Institutional investors own 91.68% of the company’s stock.

In other ASGN news, insider Randolph C. Blazer sold 10,000 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $90.57, for a total value of $905,700.00. Following the sale, the insider now directly owns 45,837 shares of the company’s stock, valued at $4,151,457.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward L. Pierce sold 25,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $90.77, for a total value of $2,269,250.00. Following the completion of the sale, the chief financial officer now directly owns 56,584 shares in the company, valued at $5,136,129.68. The disclosure for this sale can be found here. Insiders sold 50,687 shares of company stock worth $4,630,186 over the last ninety days. 3.90% of the stock is owned by corporate insiders.

ASGN has been the topic of several research reports. ValuEngine lowered ASGN from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research lowered ASGN from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Robert W. Baird reissued a “neutral” rating on shares of ASGN in a research report on Thursday, July 26th. Finally, Credit Suisse Group initiated coverage on ASGN in a research report on Friday, August 10th. They set a “neutral” rating and a $92.00 price target on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. ASGN currently has an average rating of “Buy” and an average target price of $84.00.

Shares of NYSE ASGN opened at $83.47 on Friday. ASGN Inc has a 1-year low of $48.95 and a 1-year high of $94.25. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.01 and a beta of 1.93.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.06. ASGN had a return on equity of 19.07% and a net margin of 5.67%. The firm had revenue of $878.50 million for the quarter, compared to analyst estimates of $865.03 million. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. sell-side analysts anticipate that ASGN Inc will post 4.14 EPS for the current fiscal year.

ASGN Profile

ASGN Incorporated provides IT and professional services in the technology, digital, creative, healthcare technology, engineering, life sciences, and government sectors in the United States, Europe, and Canada. The company's Apex segment offers technical, digital, and creative and scientific professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.

Further Reading: Book Value Per Share in Stock Trading

Institutional Ownership by Quarter for ASGN (NYSE:ASGN)

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