KLP Kapitalforvaltning AS Invests $585,000 in Alight, Inc. (NYSE:ALIT)

KLP Kapitalforvaltning AS bought a new position in Alight, Inc. (NYSE:ALIT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 84,600 shares of the company's stock, valued at approximately $585,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALIT. State Street Corp boosted its stake in Alight by 1.2% during the third quarter. State Street Corp now owns 11,905,766 shares of the company's stock worth $88,103,000 after acquiring an additional 141,828 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alight by 0.8% during the third quarter. Geode Capital Management LLC now owns 10,068,446 shares of the company's stock valued at $74,521,000 after purchasing an additional 77,948 shares during the last quarter. Victory Capital Management Inc. boosted its position 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 purchasing an additional 712,912 shares in the last quarter. Kinney Asset Management LLC grew its stake in shares of Alight by 4.0% in the 4th quarter. Kinney Asset Management LLC now owns 6,497,546 shares of the company's stock worth $44,963,000 after buying an additional 250,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alight by 10.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,429,362 shares of the company's stock worth $37,571,000 after buying an additional 530,769 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Stock Performance

Shares of NYSE ALIT traded up $0.06 during trading on Monday, reaching $4.84. 19,500,415 shares of the company traded hands, compared to its average volume of 5,745,728. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $6.38 and a 200-day simple moving average of $6.93. Alight, Inc. has a 52-week low of $4.51 and a 52-week high of $9.58. The stock has a market capitalization of $2.63 billion, a PE ratio of -16.13 and a beta of 0.97.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The company had revenue of $680.00 million during the quarter, compared to the consensus estimate of $675.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Equities research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio (DPR) is presently -53.33%.

Insider Buying and Selling at Alight

In related news, Director Richard N. Massey acquired 100,000 shares of Alight stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost 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 of the company's stock, valued at approximately $10,054,594.71. This trade represents a 6.79 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert A. Schriesheim bought 22,092 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the completion of the acquisition, the director now owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 125,092 shares of company stock valued at $807,755. 5.33% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Alight 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.