JPMorgan Chase & Co. Sells 929,391 Shares of Alight, Inc. (NYSE:ALIT)

JPMorgan Chase & Co. trimmed its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 934,647 shares of the company's stock after selling 929,391 shares during the quarter. JPMorgan Chase & Co. owned 0.17% of Alight worth $6,468,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Alight by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock worth $282,898,000 after purchasing an additional 292,911 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alight by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company's stock valued at $74,521,000 after purchasing an additional 77,948 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of 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 acquiring an additional 712,912 shares during the period. Kinney Asset Management LLC raised its position in shares of Alight by 4.0% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alight by 10.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,429,362 shares of the company's stock valued at $37,571,000 after purchasing an additional 530,769 shares during the period. Hedge funds and other institutional investors own 96.74% of the company's stock.

Insider Buying and Selling at Alight

In other news, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the stock in a transaction on 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 acquisition, the director now owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 125,092 shares of company stock worth $807,755. Company insiders own 5.33% of the company's stock.

Alight Stock Down 3.4 %

Alight stock traded down $0.17 during trading hours on Monday, hitting $4.82. The stock had a trading volume of 8,014,695 shares, compared to its average volume of 6,115,702. The stock's 50-day moving average price is $6.00 and its 200-day moving average price is $6.76. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $9.45. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.62 billion, a P/E ratio of -16.07 and a beta of 0.97.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $680.00 million during 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 anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio (DPR) is -53.33%.

Wall Street Analysts Forecast Growth

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

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.