Vanguard Group Inc. Acquires 547,614 Shares of Alight, Inc. (NYSE:ALIT)

Vanguard Group Inc. raised its stake in Alight, Inc. (NYSE:ALIT) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,198,914 shares of the company’s stock after acquiring an additional 547,614 shares during the quarter. Vanguard Group Inc. owned about 6.25% of Alight worth $300,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Greenlight Capital Inc. acquired a new stake in Alight in the fourth quarter worth about $78,831,000. Norges Bank bought a new stake in shares of Alight during the fourth quarter worth approximately $42,947,000. UBS Group AG lifted its holdings in Alight by 1,767.5% in the fourth quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock valued at $42,633,000 after buying an additional 4,730,410 shares during the period. Dimensional Fund Advisors LP boosted its stake in Alight by 33.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock valued at $103,826,000 after acquiring an additional 3,018,711 shares during the last quarter. Finally, Fidelity National Financial Inc. grew its holdings in Alight by 11.5% during the 4th quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after acquiring an additional 2,300,000 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Trading Up 2.1 %

ALIT opened at $7.38 on Friday. The stock has a market capitalization of $4.14 billion, a P/E ratio of -11.90, a P/E/G ratio of 1.42 and a beta of 0.88. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61. Alight, Inc. has a 12 month low of $6.33 and a 12 month high of $10.38. The firm’s fifty day simple moving average is $8.01 and its 200 day simple moving average is $8.65.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The company had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $832.41 million. As a group, research analysts anticipate that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALIT. Needham & Company LLC cut their price target on Alight from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. DA Davidson reaffirmed a “buy” rating and issued a $12.00 price target on shares of Alight in a research note on Thursday, June 20th. KeyCorp reduced their price objective on shares of Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. UBS Group upped their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Canaccord Genuity Group lifted their price target on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $11.72.

Insider Activity

In related news, CEO Stephan Scholl sold 83,016 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the transaction, the chief executive officer now owns 8,115,183 shares in the company, valued at $771,753,903.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alight news, CEO Stephan Scholl sold 83,016 shares of Alight stock in a transaction on Monday, April 8th. The shares were sold at an average price of $95.10, for a total value of $7,894,821.60. Following the sale, the chief executive officer now directly owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katie J. Rooney sold 2,777 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares of the company’s stock, valued at $28,394,945.80. The disclosure for this sale can be found here. 5.33% of the stock is owned by corporate insiders.

About Alight

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.