Norges Bank Takes Position in Alight, Inc. (NYSE:ALIT)

Norges Bank purchased a new stake in Alight, Inc. (NYSE:ALIT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,064,284 shares of the company's stock, valued at approximately $35,045,000. Norges Bank owned 0.93% of Alight as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after acquiring an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Alight by 65.5% in the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock valued at $37,000 after buying an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Alight in the fourth quarter valued at approximately $50,000. Soros Fund Management LLC bought a new position in shares of Alight during the third quarter valued at $89,000. Finally, FMR LLC raised its stake in Alight by 44.4% during the third quarter. FMR LLC now owns 11,995 shares of the company's stock worth $89,000 after buying an additional 3,689 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Stock Down 5.1 %

Shares of NYSE ALIT traded down $0.27 during mid-day trading on Thursday, reaching $5.07. 1,535,305 shares of the company's stock traded hands, compared to its average volume of 5,872,344. The stock has a market cap of $2.75 billion, a P/E ratio of -16.90 and a beta of 0.97. The business has a 50-day simple moving average of $6.23 and a 200 day simple moving average of $6.87. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $9.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

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

Alight Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 3.16%. The ex-dividend date was Monday, March 3rd. Alight's dividend payout ratio (DPR) is presently -53.33%.

Insider Buying and Selling

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Massey bought 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were purchased 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 disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 125,092 shares of company stock worth $807,755. 5.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on ALIT. DA Davidson reaffirmed a "buy" rating and issued a $10.00 price target on shares of Alight in a research note on Wednesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 price target on shares of Alight in a research note on Monday, March 24th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $11.00 price target on shares of Alight in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.