Prudential Financial Inc. Has $3.63 Million Stock Position in Alight, Inc. (NYSE:ALIT)

Prudential Financial Inc. lifted its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 39.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 525,010 shares of the company's stock after buying an additional 148,350 shares during the quarter. Prudential Financial Inc. owned approximately 0.10% of Alight worth $3,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALIT. Blue Trust Inc. grew its holdings in 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 grew its stake 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 worth $37,000 after purchasing an additional 1,996 shares in the last quarter. Cornerstone Investment Partners LLC increased its holdings in Alight by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company's stock valued at $468,000 after buying an additional 2,356 shares during the last quarter. Xponance Inc. increased its holdings in Alight by 8.8% in the fourth quarter. Xponance Inc. now owns 30,229 shares of the company's stock valued at $209,000 after buying an additional 2,437 shares during the last quarter. Finally, US Bancorp DE raised its stake 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 buying an additional 3,576 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

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Insider Buying and Selling

In other news, Director Robert A. Schriesheim acquired 22,092 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $6.39 per share, with a total value of $639,000.00. Following the acquisition, the director now directly owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 125,092 shares of company stock worth $807,755 in the last ninety days. 5.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Alight Stock Performance

Shares of NYSE ALIT traded down $0.52 during midday trading on Friday, reaching $4.77. 10,104,499 shares of the company traded hands, compared to its average volume of 5,690,717. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -15.88 and a beta of 0.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a 50-day moving average price of $6.42 and a 200 day moving average price of $6.95. Alight, Inc. has a 52 week low of $4.72 and a 52 week high of $9.58.

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

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.04 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.16 annualized dividend and a dividend yield of 3.36%. 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.