Deutsche Bank AG Sells 3,825,794 Shares of Alight, Inc. (NYSE:ALIT)

Deutsche Bank AG decreased its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 69.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,682,935 shares of the company's stock after selling 3,825,794 shares during the quarter. Deutsche Bank AG owned 0.31% of Alight worth $11,646,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ALIT. Blue Trust Inc. increased its holdings in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock worth $25,000 after purchasing an additional 1,729 shares in the last quarter. Cornerstone Investment Partners LLC boosted its position in Alight by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 67,673 shares of the company's stock worth $468,000 after buying an additional 2,356 shares during the period. Xponance Inc. increased its position in Alight by 8.8% in the 4th quarter. Xponance Inc. now owns 30,229 shares of the company's stock valued at $209,000 after acquiring an additional 2,437 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Alight by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company's stock valued at $309,000 after acquiring an additional 3,273 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Alight by 17.5% during the fourth quarter. US Bancorp DE now owns 23,980 shares of the company's stock valued at $166,000 after acquiring an additional 3,576 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALIT. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price target on shares of Alight in a research report on Monday, March 24th. Wedbush decreased their target price on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, DA Davidson restated a "buy" rating and set a $10.00 price target on shares of Alight in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Alight currently has an average rating of "Moderate Buy" and a consensus target price of $9.94.

Insiders Place Their Bets

In other news, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $6.39 per share, with a total value of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This trade represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David D. Guilmette bought 50,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was purchased at an average price of $5.69 per share, for a total transaction of $284,500.00. Following the completion of the purchase, the director now owns 600,750 shares of the company's stock, valued at approximately $3,418,267.50. This trade represents a 9.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 175,092 shares of company stock valued at $1,092,255. Insiders own 5.33% of the company's stock.

Alight Stock Down 0.6%

ALIT traded down $0.04 during mid-day trading on Wednesday, reaching $5.65. 1,403,962 shares of the stock were exchanged, compared to its average volume of 8,229,335. Alight, Inc. has a 1 year low of $4.49 and a 1 year high of $8.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $3.07 billion, a PE ratio of -18.82 and a beta of 0.99. The company has a 50 day moving average price of $5.48 and a two-hundred day moving average price of $6.49.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The firm had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. As a group, research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current year.

Alight Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 2.83%. Alight's dividend payout ratio (DPR) is currently -114.29%.

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.