Raymond James Financial Inc. Acquires New Holdings in Alight, Inc. (NYSE:ALIT)

Raymond James Financial Inc. acquired a new stake in Alight, Inc. (NYSE:ALIT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 546,714 shares of the company’s stock, valued at approximately $3,783,000. Raymond James Financial Inc. owned 0.10% of Alight at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock valued at $37,000 after buying an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Alight in the 4th quarter worth $50,000. Soros Fund Management LLC purchased a new stake in Alight in the 3rd quarter valued at about $89,000. Finally, FMR LLC increased its position in shares of Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after acquiring an additional 3,689 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

NYSE ALIT opened at $6.19 on Thursday. 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 $3.36 billion, a P/E ratio of -20.63 and a beta of 0.94. Alight, Inc. has a 12 month low of $5.87 and a 12 month high of $10.04. The stock’s fifty day moving average price is $6.59 and its 200-day moving average price is $7.02.

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

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Insider Transactions at Alight

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Monday. Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of Alight in a report on Tuesday. Finally, DA Davidson reiterated a “buy” rating and set a $10.00 price target on shares of Alight in a research report on Wednesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.19.

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.