Alight, Inc. (NYSE:ALIT) Stake Raised by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,709,570 shares of the company's stock after acquiring an additional 712,912 shares during the quarter. Victory Capital Management Inc. owned about 1.24% of Alight worth $46,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after buying an additional 1,729 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock worth $37,000 after acquiring an additional 1,996 shares during the period. Venturi Wealth Management LLC acquired a new stake in Alight in the fourth quarter valued at approximately $50,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Alight during the third quarter valued at approximately $74,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Alight during the third quarter valued at approximately $89,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Stock Up 0.2 %

NYSE ALIT traded up $0.02 on Wednesday, hitting $6.05. 7,411,859 shares of the stock traded hands, compared to its average volume of 6,586,650. The company has a market capitalization of $3.28 billion, a P/E ratio of -20.21 and a beta of 0.94. The stock has a 50-day moving average of $6.72 and a 200 day moving average of $7.11. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Alight, Inc. has a twelve month low of $5.97 and a twelve month high of $10.38.

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Alight (NYSE:ALIT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. As a group, analysts expect 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 will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.16 annualized dividend and a yield of 2.65%. Alight's dividend payout ratio (DPR) is -53.33%.

Insider Buying and Selling

In related news, Director Richard N. Massey purchased 100,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, for a total transaction of $639,000.00. Following the transaction, the director now owns 1,573,489 shares of the company's stock, valued at $10,054,594.71. This trade represents a 6.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this purchase can be found here. 5.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALIT shares. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price target on shares of Alight in a report on Friday, February 21st. KeyCorp lifted their target price on Alight from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their price target on Alight from $11.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $10.61.

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.