Thrivent Financial for Lutherans Makes New Investment in Alight, Inc. (NYSE:ALIT)

Thrivent Financial for Lutherans purchased a new position in shares of Alight, Inc. (NYSE:ALIT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 98,312 shares of the company's stock, valued at approximately $680,000.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 2,020,648 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Alight in the 4th quarter valued at about $10,853,000. JPMorgan Chase & Co. increased its holdings in Alight by 202.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock valued at $13,794,000 after acquiring an additional 1,248,465 shares in the last quarter. Victory Capital Management Inc. raised its position in Alight by 11.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company's stock worth $46,430,000 after acquiring an additional 712,912 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Alight in the fourth quarter valued at about $3,783,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard N. Massey acquired 100,000 shares of the business's stock in a transaction dated 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 $10,054,594.71. This trade represents a 6.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, 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 purchased a total of 125,092 shares of company stock valued at $807,755 over the last quarter. Company insiders own 5.33% of the company's stock.

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Alight Trading Up 1.2 %

Shares of ALIT stock traded up $0.06 during mid-day trading on Monday, hitting $4.84. 19,500,415 shares of the company's stock were exchanged, compared to its average volume of 5,745,728. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -16.13 and a beta of 0.97. 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 fifty-two week low of $4.51 and a fifty-two week high of $9.58. The stock has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $6.93.

Alight (NYSE:ALIT - Get Free Report) last issued 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 business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Equities analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal 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 given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio (DPR) is -53.33%.

Analysts Set New Price Targets

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