Vanguard Group Inc. Has $282.90 Million Stock Position in Alight, Inc. (NYSE:ALIT)

Vanguard Group Inc. lifted its stake in shares of Alight, Inc. (NYSE:ALIT) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,881,219 shares of the company’s stock after buying an additional 292,911 shares during the period. Vanguard Group Inc. owned about 7.53% of Alight worth $282,898,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Alight by 65.5% in 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 period. Cornerstone Investment Partners LLC increased its stake in shares of Alight by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company’s stock valued at $468,000 after buying an additional 2,356 shares during the period. Xponance Inc. raised its holdings in Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company’s stock valued at $209,000 after buying an additional 2,437 shares during the last quarter. Finally, US Bancorp DE boosted its position in Alight by 17.5% during the 4th quarter. US Bancorp DE now owns 23,980 shares of the company’s stock worth $166,000 after buying an additional 3,576 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Insider Transactions at Alight

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Alight in a research report on Monday, March 24th. DA Davidson restated a “buy” rating and issued a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Alight in a research report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.19.

Alight Stock Down 9.8 %

Shares of NYSE:ALIT opened at $4.77 on Friday. The business’s 50-day moving average is $6.42 and its 200-day moving average is $6.95. Alight, Inc. has a 1 year low of $4.72 and a 1 year high of $9.58. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -15.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT) last announced 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 for the quarter, compared to analyst estimates of $675.66 million. Equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.04 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 3.36%. Alight’s dividend payout ratio is currently -53.33%.

About Alight

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.