Charles Schwab Investment Management Inc. Purchases 530,769 Shares of Alight, Inc. (NYSE:ALIT)

Charles Schwab Investment Management Inc. raised its holdings in Alight, Inc. (NYSE:ALIT) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,429,362 shares of the company’s stock after buying an additional 530,769 shares during the period. Charles Schwab Investment Management Inc. owned about 1.00% of Alight worth $37,571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Winslow Asset Management Inc. acquired a new stake in Alight in the 4th quarter worth about $93,000. US Bancorp DE increased its position in shares of Alight by 17.5% in the fourth quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after purchasing an additional 3,576 shares during the period. Bank of New York Mellon Corp increased its stake in Alight by 94.6% in the fourth quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company’s stock valued at $28,758,000 after acquiring an additional 2,020,648 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Alight during the 4th quarter worth $50,000. Finally, Kinney Asset Management LLC increased its position in Alight by 4.0% during the 4th quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company’s stock worth $44,963,000 after purchasing an additional 250,000 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Price Performance

Shares of NYSE:ALIT opened at $6.12 on Friday. Alight, Inc. has a 1-year low of $5.87 and a 1-year high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.32 billion, a PE ratio of -20.38 and a beta of 0.94. The stock’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $7.09.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $680.00 million for 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, analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio is -53.33%.

Analyst Upgrades and Downgrades

Separately, 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.61.

Insider Buying and Selling at Alight

In other news, Director Richard N. Massey bought 100,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now owns 22,092 shares of the company’s stock, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 125,092 shares of company stock valued at $807,755 in the last 90 days. Corporate insiders own 5.33% of the company’s stock.

Alight Company 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.