Lazard Asset Management LLC Trims Holdings in Alight, Inc. (NYSE:ALIT)

Lazard Asset Management LLC decreased its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 553,023 shares of the company's stock after selling 85,954 shares during the quarter. Lazard Asset Management LLC owned about 0.10% of Alight worth $3,826,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Blue Trust Inc. increased its position in shares of Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company's stock valued at $25,000 after acquiring an additional 1,729 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Alight during the fourth quarter valued at about $50,000. Headlands Technologies LLC purchased a new position in shares of Alight in the fourth quarter valued at approximately $84,000. Sterling Capital Management LLC boosted its stake in shares of Alight by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 13,224 shares of the company's stock valued at $92,000 after purchasing an additional 11,783 shares during the period. Finally, Winslow Asset Management Inc. purchased a new position in shares of Alight in the fourth quarter valued at approximately $93,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Alight Stock Down 0.7%

Shares of NYSE:ALIT traded down $0.04 during trading on Tuesday, hitting $5.67. 11,315,052 shares of the company were exchanged, compared to its average volume of 6,322,755. The stock has a market capitalization of $3.08 billion, a P/E ratio of -18.90 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Alight, Inc. has a 12-month low of $4.49 and a 12-month high of $8.93. The firm's 50 day moving average price is $5.48 and its 200-day moving average price is $6.50.

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

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.04 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.82%. Alight's payout ratio is -114.29%.

Insider Activity

In other news, Director David D. Guilmette acquired 50,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were bought at an average cost of $5.69 per share, with a total value of $284,500.00. Following the purchase, the director now owns 600,750 shares of the company's stock, valued at $3,418,267.50. This represents a 9.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Massey acquired 100,000 shares of the company's stock in a transaction on 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 completion of the purchase, the director now directly owns 1,573,489 shares in the company, valued at $10,054,594.71. This trade represents a 6.79% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 175,092 shares of company stock valued at $1,092,255 in the last ninety days. 5.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ALIT has been the subject of several recent research reports. DA Davidson reissued a "buy" rating and issued a $10.00 price objective on shares of Alight in a research note on Wednesday, March 26th. Wedbush decreased their price target on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Alight currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.94.

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.