Alight, Inc. (NYSE:ALIT) Shares Bought by US Bancorp DE

US Bancorp DE lifted its stake in Alight, Inc. (NYSE:ALIT) by 3,543.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,404 shares of the company’s stock after purchasing an additional 19,844 shares during the quarter. US Bancorp DE’s holdings in Alight were worth $151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares during the period. Ingalls & Snyder LLC lifted its stake in Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after acquiring an additional 2,235 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Alight during the 2nd quarter worth approximately $105,000. Amalgamated Bank increased its position in shares of Alight by 16.2% in the 2nd quarter. Amalgamated Bank now owns 16,434 shares of the company’s stock valued at $121,000 after purchasing an additional 2,289 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Alight in the second quarter valued at $174,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Buying and Selling

In other news, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the sale, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This represents a 84.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ALIT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 20th. Canaccord Genuity Group increased their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp raised their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC upped their target price on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wedbush decreased their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.95.

Alight Stock Performance

NYSE:ALIT opened at $7.73 on Friday. The firm’s fifty day simple moving average is $7.28 and its 200 day simple moving average is $7.41. The company has a current ratio of 1.30, a quick ratio of 1.37 and a debt-to-equity ratio of 0.46. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -16.10 and a beta of 0.87.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same quarter last year, the firm posted $0.07 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts expect that Alight, Inc. will post 0.42 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Alight Profile

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.