Principal Financial Group Inc. Sells 6,365 Shares of Alight, Inc. (NYSE:ALIT)

Principal Financial Group Inc. decreased its holdings in shares of Alight, Inc. (NYSE:ALIT) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,227 shares of the company’s stock after selling 6,365 shares during the period. Principal Financial Group Inc.’s holdings in Alight were worth $161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after buying an additional 1,729 shares during the period. Public Employees Retirement System of Ohio raised its stake in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after buying an additional 1,996 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Alight during the 3rd quarter worth approximately $74,000. KBC Group NV raised its stake in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after buying an additional 2,331 shares during the period. Finally, Soros Fund Management LLC acquired a new position in Alight during the 3rd quarter worth approximately $89,000. Institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling at Alight

In other news, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $6.79 per share, with a total value of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALIT has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Friday, February 21st. Canaccord Genuity Group upped their price target on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp increased their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

Alight Stock Performance

ALIT stock opened at $6.38 on Friday. The firm has a market cap of $3.46 billion, a PE ratio of -21.25 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $6.75 and a 200-day moving average of $7.13. Alight, Inc. has a 12-month low of $6.15 and a 12-month high of $10.38.

Alight (NYSE:ALIT) last released its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. As a group, sell-side analysts expect that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio (DPR) is -53.33%.

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.