Charles Schwab Investment Management Inc. Grows Holdings in Alight, Inc. (NYSE:ALIT)

Charles Schwab Investment Management Inc. boosted its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 16.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,898,593 shares of the company's stock after buying an additional 699,375 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.90% of Alight worth $36,250,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rubric Capital Management LP bought a new position in Alight during the second quarter worth about $62,162,000. Dimensional Fund Advisors LP boosted its position in Alight by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company's stock worth $155,463,000 after purchasing an additional 3,342,413 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Alight by 100.9% in the second quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company's stock worth $26,385,000 after buying an additional 1,795,830 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Alight by 28.3% in the second quarter. Victory Capital Management Inc. now owns 6,160,609 shares of the company's stock worth $45,465,000 after buying an additional 1,358,020 shares in the last quarter. Finally, Engine Capital Management LP purchased a new stake in shares of Alight in the second quarter worth about $9,594,000. Institutional investors own 96.74% of the company's stock.

Insider Buying and Selling

In other Alight news, President Gregory R. Goff sold 250,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.00, for a total transaction of $2,000,000.00. Following the transaction, the president now owns 852,694 shares in the company, valued at approximately $6,821,552. This represents a 22.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William P. Foley II sold 5,000,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now owns 883,323 shares in the company, valued at $7,287,414.75. This represents a 84.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,334,929 shares of company stock worth $43,895,460 in the last quarter. Corporate insiders own 5.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ALIT shares. Needham & Company LLC increased their price target on shares of Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. KeyCorp raised their target price on shares of Alight from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Wedbush lowered their target price on shares of Alight from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group raised their target price on shares of Alight from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut shares of Alight from an "overweight" rating to a "neutral" rating and set a $8.00 price target on the stock. in a report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.95.

Alight Stock Down 1.4 %

Alight stock traded down $0.12 on Tuesday, hitting $7.90. 5,755,485 shares of the stock traded hands, compared to its average volume of 5,739,718. 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 firm has a market cap of $4.29 billion, a P/E ratio of -16.46 and a beta of 0.92. The business's fifty day simple moving average is $7.43 and its 200 day simple moving average is $7.36. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38.

Alight (NYSE:ALIT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. The company had revenue of $555.00 million for the quarter, compared to analysts' expectations of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. Alight's revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. As a group, sell-side analysts forecast that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Announces Dividend

The company also recently declared a -- dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

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.