M&T Bank Corp Grows Stock Holdings in Alight, Inc. (NYSE:ALIT)

M&T Bank Corp lifted its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,276 shares of the company's stock after purchasing an additional 61,271 shares during the quarter. M&T Bank Corp owned about 0.08% of Alight worth $3,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after buying an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock worth $37,000 after purchasing an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Alight during the 4th quarter valued at about $50,000. Oppenheimer & Co. Inc. purchased a new stake in Alight during the 3rd quarter valued at about $74,000. Finally, KBC Group NV increased its stake in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company's stock valued at $89,000 after purchasing an additional 2,331 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $6.79 per share, with a total value of $150,004.68. Following the transaction, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard N. Massey acquired 100,000 shares of the firm's stock in a transaction on 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 purchase, the director now owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.33% of the company's stock.

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Alight Price Performance

Alight stock traded up $0.02 during mid-day trading on Wednesday, hitting $6.05. The stock had a trading volume of 7,992,968 shares, compared to its average volume of 6,591,094. Alight, Inc. has a one year low of $5.97 and a one year high of $10.38. 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 capitalization of $3.28 billion, a P/E ratio of -20.15 and a beta of 0.94. The firm's 50 day moving average is $6.72 and its 200 day moving average is $7.11.

Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share 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 the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. On average, sell-side analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.04 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.65%. Alight's dividend payout ratio is currently -53.33%.

Analyst Ratings Changes

Several research firms recently issued reports on ALIT. Canaccord Genuity Group upped their price objective on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price target on shares of Alight in a report on Friday, February 21st. Finally, KeyCorp upped 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $10.61.

Alight Company 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.