Charles Schwab Investment Management Inc. Purchases 530,769 Shares of Alight, Inc. (NYSE:ALIT)

Charles Schwab Investment Management Inc. increased its position in Alight, Inc. (NYSE:ALIT) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,429,362 shares of the company’s stock after acquiring an additional 530,769 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Alight were worth $37,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ALIT. Walleye Capital LLC purchased a new position in Alight during the 3rd quarter valued at approximately $5,063,000. Highland Peak Capital LLC bought a new stake in Alight during the third quarter valued at about $5,315,000. JPMorgan Chase & Co. increased its position in shares of Alight by 202.8% during the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock worth $13,794,000 after purchasing an additional 1,248,465 shares in the last quarter. Wexford Capital LP boosted its holdings in Alight by 320.2% in the third quarter. Wexford Capital LP now owns 110,000 shares of the company’s stock worth $814,000 after acquiring an additional 83,822 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in Alight during the 3rd quarter worth approximately $1,834,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Stock Performance

NYSE ALIT opened at $6.12 on Friday. Alight, Inc. has a twelve month low of $5.87 and a twelve month high of $10.38. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -20.38 and a beta of 0.94. 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 stock has a 50-day moving average of $6.68 and a 200 day moving average of $7.09.

Alight (NYSE:ALIT) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Sell-side analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Alight in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.61.

Insiders Place Their Bets

In other news, Director Robert A. Schriesheim bought 22,092 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost 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 $150,004.68. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Massey purchased 100,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the purchase, the director now directly owns 1,573,489 shares of the company’s stock, valued at approximately $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 have bought 125,092 shares of company stock valued at $807,755 over the last ninety days. 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.