Vanguard Group Inc. Buys 292,911 Shares of Alight, Inc. (NYSE:ALIT)

Vanguard Group Inc. boosted its stake in Alight, Inc. (NYSE:ALIT) by 0.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,881,219 shares of the company’s stock after buying an additional 292,911 shares during the quarter. Vanguard Group Inc. owned 0.08% of Alight worth $282,898,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ALIT. American Century Companies Inc. boosted its stake in shares of Alight by 214.0% in the 4th quarter. American Century Companies Inc. now owns 4,600,961 shares of the company’s stock worth $31,839,000 after buying an additional 3,135,846 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Alight by 94.6% in the 4th quarter. Bank of New York Mellon Corp now owns 4,155,792 shares of the company’s stock valued at $28,758,000 after purchasing an additional 2,020,648 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alight during the 4th quarter valued at $10,853,000. JPMorgan Chase & Co. raised its stake in shares of Alight by 202.8% during the 3rd 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 during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Alight by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,709,570 shares of the company’s stock worth $46,430,000 after buying an additional 712,912 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alight

In other Alight news, Director Robert A. Schriesheim purchased 22,092 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $6.79 per share, with a total value of $150,004.68. Following the acquisition, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Massey acquired 100,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $6.39 per share, with a total value of $639,000.00. Following the acquisition, the director now directly owns 1,573,489 shares of the company’s stock, valued at $10,054,594.71. This represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 125,092 shares of company stock valued at $807,755 in the last three months. Company insiders own 5.33% of the company’s stock.

Alight Trading Down 9.8 %

NYSE:ALIT opened at $4.77 on Friday. Alight, Inc. has a 1 year low of $4.72 and a 1 year high of $9.58. The stock’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $6.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $2.59 billion, a P/E ratio of -15.88 and a beta of 0.94.

Alight (NYSE:ALIT) last issued 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 positive return on equity of 5.42% and a negative net margin of 5.53%. The company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. As a group, analysts expect that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, March 3rd. Alight’s dividend payout ratio is presently -53.33%.

Wall Street Analyst Weigh In

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

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.