98,312 Shares in Alight, Inc. (NYSE:ALIT) Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans acquired a new stake in Alight, Inc. (NYSE:ALIT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 98,312 shares of the company’s stock, valued at approximately $680,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALIT. JPMorgan Chase & Co. raised its position in Alight by 202.8% in the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock valued at $13,794,000 after purchasing an additional 1,248,465 shares during the last quarter. Wexford Capital LP raised its holdings in Alight by 320.2% in the 3rd quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock valued at $814,000 after buying an additional 83,822 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Alight during the 3rd quarter worth approximately $1,512,000. Geode Capital Management LLC grew its holdings in Alight by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company’s stock worth $74,521,000 after acquiring an additional 77,948 shares during the last quarter. Finally, State Street Corp increased its position in Alight by 1.2% in the 3rd quarter. State Street Corp now owns 11,905,766 shares of the company’s stock valued at $88,103,000 after acquiring an additional 141,828 shares during the period. Institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling

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

Alight Price Performance

Shares of Alight stock opened at $5.89 on Thursday. The firm has a market cap of $3.20 billion, a PE ratio of -19.63 and a beta of 0.94. The company’s fifty day simple moving average is $6.50 and its two-hundred day simple moving average is $6.98. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a 12-month low of $5.73 and a 12-month high of $9.64.

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

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Monday, March 3rd. Alight’s payout ratio is -53.33%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ALIT shares. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Alight in a research report on Monday, March 24th. DA Davidson reiterated a “buy” rating and set a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. Finally, Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Alight in a report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, 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.