State Street Corp Raises Stake in Alight, Inc. (NYSE:ALIT)

State Street Corp increased its position in Alight, Inc. (NYSE:ALIT - Free Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,905,766 shares of the company's stock after purchasing an additional 141,828 shares during the quarter. State Street Corp owned approximately 2.18% of Alight worth $88,103,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in Alight by 65.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company's stock valued at $55,000 after purchasing an additional 2,961 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Alight by 100.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,575,167 shares of the company's stock worth $26,385,000 after buying an additional 1,795,830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alight by 29.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,402 shares of the company's stock valued at $623,000 after buying an additional 19,353 shares during the period. Ingalls & Snyder LLC boosted its holdings in shares of Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company's stock worth $95,000 after acquiring an additional 2,235 shares during the period. Finally, Natixis Advisors LLC raised its stake in Alight by 13.5% in the second quarter. Natixis Advisors LLC now owns 198,263 shares of the company's stock valued at $1,463,000 after purchasing an additional 23,520 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Down 0.5 %

NYSE:ALIT traded down $0.04 during mid-day trading on Tuesday, reaching $7.06. The stock had a trading volume of 4,687,686 shares, compared to its average volume of 5,773,938. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The business's 50 day moving average is $7.46 and its 200 day moving average is $7.32. The stock has a market cap of $3.83 billion, a P/E ratio of -14.77 and a beta of 0.92.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The firm's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, sell-side analysts predict that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The firm also recently announced a -- dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.04 per share. The ex-dividend date was Monday, December 2nd.

Wall Street Analyst Weigh In

ALIT has been the topic of several recent research reports. JPMorgan Chase & Co. downgraded Alight from an "overweight" rating to a "neutral" rating and set a $8.00 price target on the stock. in a research note on Tuesday, August 20th. Canaccord Genuity Group increased their target price on shares of Alight from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Needham & Company LLC upped their price target on Alight from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Citigroup decreased their price target on shares of Alight from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Finally, KeyCorp lifted their price target on Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Alight presently has an average rating of "Moderate Buy" and an average price target of $10.83.

Insiders Place Their Bets

In other Alight news, insider Gregory A. George sold 84,929 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $7.60, for a total transaction of $645,460.40. Following the transaction, the insider now owns 223,327 shares in the company, valued at $1,697,285.20. This trade represents a 27.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Gregory R. Goff sold 250,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the sale, the president now directly owns 852,694 shares in the company, valued at approximately $6,821,552. This trade represents a 22.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,334,929 shares of company stock worth $43,895,460 over the last ninety days. 5.33% of the stock is currently owned by corporate insiders.

About Alight

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.