Alight, Inc. (NYSE:ALIT) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,881,219 shares of the company's stock after buying an additional 292,911 shares during the period. Vanguard Group Inc. owned 7.53% of Alight worth $282,898,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wedbush restated an "outperform" rating and set a $11.00 price target on shares of Alight in a research report on Tuesday, March 25th. Needham & Company LLC reiterated a "buy" rating and set a $9.00 price target on shares of Alight in a research note on Monday, March 24th. Finally, DA Davidson reissued a "buy" rating and issued a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.19.

Remove Ads

Insider Buying and Selling at Alight

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the purchase, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the business's stock in a transaction on 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 completion of the acquisition, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 125,092 shares of company stock worth $807,755. 5.33% of the stock is currently owned by insiders.

Alight Stock Up 14.5 %

Shares of NYSE:ALIT traded up $0.68 during trading hours on Wednesday, reaching $5.37. The stock had a trading volume of 25,402,807 shares, compared to its average volume of 5,886,541. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $9.45. The firm's 50 day moving average is $6.23 and its 200-day moving average is $6.87. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -17.90 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 (NYSE:ALIT - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate 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 business had revenue of $680.00 million during the quarter, compared to analysts' expectations of $675.66 million. Research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.98%. Alight's payout ratio is -53.33%.

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.