Charles Schwab Investment Management Inc. Buys 530,769 Shares of Alight, Inc. (NYSE:ALIT)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,429,362 shares of the company's stock after buying an additional 530,769 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.00% of Alight worth $37,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALIT. Winslow Asset Management Inc. bought a new stake in shares of Alight during the 4th quarter valued at $93,000. US Bancorp DE lifted its position in Alight by 17.5% during the fourth quarter. US Bancorp DE now owns 23,980 shares of the company's stock valued at $166,000 after purchasing an additional 3,576 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in 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 valued at $28,758,000 after purchasing an additional 2,020,648 shares during the period. Venturi Wealth Management LLC purchased a new stake in Alight in the fourth quarter worth about $50,000. Finally, Kinney Asset Management LLC raised its stake in Alight by 4.0% during the 4th quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company's stock worth $44,963,000 after acquiring an additional 250,000 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a "buy" rating and issued a $9.00 price objective on shares of Alight in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Alight currently has an average rating of "Moderate Buy" and an average price target of $10.61.

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Insider Activity at Alight

In related news, Director Richard N. Massey bought 100,000 shares of the stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the purchase, the director now owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, for a total transaction of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares of the company's stock, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 125,092 shares of company stock worth $807,755 in the last quarter. 5.33% of the stock is owned by company insiders.

Alight Trading Up 0.7 %

ALIT stock traded up $0.05 during mid-day trading on Wednesday, reaching $6.19. 5,983,603 shares of the stock traded hands, compared to its average volume of 6,736,963. Alight, Inc. has a one year low of $5.87 and a one year high of $10.38. The stock has a market capitalization of $3.36 billion, a PE ratio of -20.61 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The business has a 50-day moving average price of $6.65 and a two-hundred day moving average price of $7.07.

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

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio is currently -53.33%.

Alight 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.