BlackRock Trims ASGN Stake to 10.9% as of Dec 31, 2023

Ticker: ASGN · Form: SC 13G/A · Filed: 2024-01-23T00:00:00.000Z

Sentiment: bearish

Topics: institutional-ownership, stake-reduction, SC-13G/A, portfolio-rebalancing

TL;DR

**BlackRock cut its ASGN stake to 10.9%, signaling a potential bearish shift.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership in ASGN Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 5,364,064 shares of ASGN Inc. Common Stock, representing 10.9% of the company's outstanding shares. This is a decrease from their previous filing, indicating BlackRock has reduced its stake in ASGN Inc., which could signal a shift in their investment outlook for the company.

Why It Matters

This filing shows that a major institutional investor, BlackRock, has reduced its ownership in ASGN Inc., which could be interpreted by the market as a less bullish stance on the stock's future performance.

Risk Assessment

Risk Level: medium — A significant reduction in ownership by a major institutional investor like BlackRock can sometimes precede negative stock performance, posing a medium risk to current or prospective investors.

Analyst Insight

A smart investor would investigate the reasons behind BlackRock's reduction in ASGN Inc. shares and consider if this signals a broader negative outlook for the company or its sector before making any investment decisions.

Key Numbers

5,364,064 — Shares Beneficially Owned (This is the total number of ASGN Inc. shares BlackRock Inc. reported owning as of December 31, 2023.)
10.9% — Percentage of Class (This represents the percentage of ASGN Inc.'s common stock that BlackRock Inc. beneficially owns, indicating a significant but reduced stake.)

Key Players & Entities

BlackRock Inc. (company) — the reporting person and institutional investor
ASGN Inc. (company) — the subject company whose shares are being reported
5,364,064 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
10.9% (dollar_amount) — percentage of ASGN Inc. common stock beneficially owned by BlackRock Inc.
December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

ASGN Inc.'s stock price may experience downward pressure or increased volatility in the short term. (ASGN Inc.) — medium confidence, target: Q1 2024
Other institutional investors might re-evaluate their positions in ASGN Inc. following BlackRock's reduced stake. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

What is the primary purpose of this SC 13G/A filing by BlackRock Inc. regarding ASGN Inc.?

The primary purpose of this SC 13G/A filing is for BlackRock Inc. to update its beneficial ownership of ASGN Inc. common stock, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934, specifically reporting its holdings as of December 31, 2023.

How many shares of ASGN Inc. Common Stock does BlackRock Inc. beneficially own according to this filing?

According to this filing, BlackRock Inc. beneficially owns 5,364,064 shares of ASGN Inc. Common Stock as of December 31, 2023.

What percentage of ASGN Inc.'s Common Stock does BlackRock Inc.'s ownership represent?

BlackRock Inc.'s ownership of 5,364,064 shares represents 10.9% of ASGN Inc.'s Common Stock, as stated in the filing.

What was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?

The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.

Under which rule was this Schedule 13G filed?

This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box on the cover page.

From the Filing

0001086364-24-001634.txt : 20240123 0001086364-24-001634.hdr.sgml : 20240123 20240123161356 ACCESSION NUMBER: 0001086364-24-001634 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240123 DATE AS OF CHANGE: 20240123 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ASGN Inc CENTRAL INDEX KEY: 0000890564 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 954023433 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43232 FILM NUMBER: 24552711 BUSINESS ADDRESS: STREET 1: 4400 COX ROAD, SUITE 110 CITY: GLEN ALLEN STATE: VA ZIP: 23060 BUSINESS PHONE: 8188787900 MAIL ADDRESS: STREET 1: 4400 COX ROAD, SUITE 110 CITY: GLEN ALLEN STATE: VA ZIP: 23060 FORMER COMPANY: FORMER CONFORMED NAME: ON ASSIGNMENT INC DATE OF NAME CHANGE: 19930328 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us00191u1025_012324.txt us00191u1025_012324.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 2) ASGN Inc -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 00191U102 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 00191U102 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 5596366 (6) Shared voting power 0 (7) Sole dispositive power 5692155 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 5692155 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 12.1% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- ASGN Inc Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 4400 COX ROAD, SUITE 110 GLEN ALLEN VA 23060 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal busine