Russell Investments Group Ltd. Sells 76,064 Shares of Alight, Inc. (NYSE:ALIT)

Russell Investments Group Ltd. cut its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,799 shares of the company's stock after selling 76,064 shares during the quarter. Russell Investments Group Ltd.'s holdings in Alight were worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Alight by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,881,219 shares of the company's stock valued at $282,898,000 after buying an additional 292,911 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $74,521,000 after acquiring an additional 77,948 shares during the last quarter. Victory Capital Management Inc. grew its position in Alight by 11.9% in the fourth 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 in the last quarter. Kinney Asset Management LLC increased its stake in Alight by 4.0% in the fourth quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company's stock valued at $44,963,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Alight by 10.8% during the fourth 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 in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Trading Down 3.4 %

Shares of NYSE ALIT traded down $0.17 during trading hours on Monday, hitting $4.82. The company's stock had a trading volume of 8,014,696 shares, compared to its average volume of 6,115,702. The business has a 50-day simple moving average of $5.96 and a 200-day simple moving average of $6.74. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -16.07 and a beta of 0.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a 12 month low of $4.49 and a 12 month high of $9.45.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. On average, analysts anticipate 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 was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid 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 payout ratio is currently -53.33%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALIT. Needham & Company LLC reiterated a "buy" rating and set a $9.00 price objective on shares of Alight in a research report on Monday, March 24th. DA Davidson restated a "buy" rating and issued a $10.00 price objective on shares of Alight in a report on Wednesday, March 26th. Finally, Wedbush reaffirmed an "outperform" rating and set a $11.00 target price on shares of Alight in a report 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $10.19.

Insiders Place Their Bets

In other Alight news, Director Robert A. Schriesheim bought 22,092 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the acquisition, the director now owns 22,092 shares in the company, valued at approximately $150,004.68. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard N. Massey purchased 100,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, with a total value 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. This trade represents a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 125,092 shares of company stock worth $807,755 over the last three months. Company insiders own 5.33% of the company's stock.

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.