State Street Corp Buys 141,828 Shares of Alight, Inc. (NYSE:ALIT)

State Street Corp grew its stake in shares of Alight, Inc. (NYSE:ALIT) by 1.2% in the third quarter, HoldingsChannel.com reports. The firm owned 11,905,766 shares of the company’s stock after purchasing an additional 141,828 shares during the period. State Street Corp’s holdings in Alight were worth $88,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in Alight by 65.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock worth $55,000 after purchasing an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Alight during the 3rd quarter worth approximately $74,000. FMR LLC increased its holdings in Alight by 44.4% during the 3rd quarter. FMR LLC now owns 11,995 shares of the company’s stock worth $89,000 after purchasing an additional 3,689 shares in the last quarter. KBC Group NV increased its holdings in Alight by 24.0% during the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after purchasing an additional 2,331 shares in the last quarter. Finally, Ingalls & Snyder LLC increased its holdings in Alight by 20.9% during the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after purchasing an additional 2,235 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Price Performance

Alight stock opened at $7.09 on Tuesday. Alight, Inc. has a 12 month low of $6.15 and a 12 month high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $7.46 and its 200 day simple moving average is $7.32. The company has a market cap of $3.85 billion, a price-to-earnings ratio of -14.77 and a beta of 0.92.

Alight (NYSE:ALIT) last posted its earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Sell-side analysts forecast that Alight, Inc. will post 0.47 EPS for the current year.

Alight Announces Dividend

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

Insiders Place Their Bets

In related 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 value of $645,460.40. Following the sale, the insider now owns 223,327 shares in the company, valued at approximately $1,697,285.20. This trade represents a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the sale, the president now owns 852,694 shares in the company, valued at $6,821,552. This trade represents a 22.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,334,929 shares of company stock worth $43,895,460 over the last 90 days. Corporate insiders own 5.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALIT shares. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a report on Tuesday, August 20th. KeyCorp upped their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Canaccord Genuity Group upped their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup reduced their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Needham & Company LLC upped their target price on Alight from $9.00 to $11.00 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 issued a buy rating to the stock. According to data from MarketBeat, Alight has a consensus rating of “Moderate Buy” and an average target price of $10.83.

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.