Alight, Inc. (NYSE:ALIT) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in shares of Alight, Inc. (NYSE:ALIT) by 26.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 284,164 shares of the company’s stock after buying an additional 60,257 shares during the period. Sei Investments Co. owned about 0.05% of Alight worth $1,966,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company’s stock valued at $31,839,000 after purchasing an additional 3,135,846 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alight by 94.6% during the fourth quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company’s stock worth $28,758,000 after purchasing an additional 2,020,648 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Alight in the fourth quarter valued at $10,853,000. JPMorgan Chase & Co. raised its stake 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 buying an additional 1,248,465 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Alight by 11.9% during the 4th quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company’s stock worth $46,430,000 after buying an additional 712,912 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Alight Stock Down 9.8 %

Shares of NYSE:ALIT opened at $4.77 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $2.59 billion, a P/E ratio of -15.88 and a beta of 0.97. Alight, Inc. has a 1-year low of $4.72 and a 1-year high of $9.58. The firm has a fifty day moving average price of $6.42 and a 200 day moving average price of $6.95.

Alight (NYSE:ALIT) last released 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). The company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Sell-side analysts predict that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

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

Insider Activity at Alight

In related news, Director Richard N. Massey bought 100,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 1,573,489 shares of the company’s stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert A. Schriesheim purchased 22,092 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their ownership of the stock. 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 three months. Insiders own 5.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ALIT. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Alight in a report on Tuesday, March 25th. DA Davidson reissued a “buy” rating and set a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Alight in a report on Monday, March 24th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.19.

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.