Alight, Inc. (NYSE:ALIT) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,671,831 shares of the company's stock after buying an additional 2,015,579 shares during the period. Ameriprise Financial Inc. owned 2.33% of Alight worth $87,686,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Alight

In other Alight news, Director Richard N. Massey purchased 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert A. Schriesheim acquired 22,092 shares of the company's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the purchase, the director now owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 125,092 shares of company stock worth $807,755 over the last ninety days. Corporate insiders own 5.33% of the company's stock.

Alight Stock Down 0.7%

Shares of ALIT traded down $0.04 during mid-day trading on Wednesday, hitting $5.85. 2,232,424 shares of the company's stock were exchanged, compared to its average volume of 6,306,959. The stock's 50-day moving average is $5.52 and its 200-day moving average is $6.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $8.93. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -19.50 and a beta of 0.99.

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

Alight Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.16 annualized dividend and a dividend yield of 2.74%. Alight's dividend payout ratio (DPR) is currently -114.29%.

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.