Alight, Inc. (NYSE:ALIT) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,107,761 shares of the company's stock after purchasing an additional 222,725 shares during the period. Northern Trust Corp owned approximately 0.76% of Alight worth $28,426,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Alight by 148.2% in the third quarter. Barclays PLC now owns 815,841 shares of the company's stock valued at $6,037,000 after purchasing an additional 487,185 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alight by 202.8% in the third quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company's stock worth $13,794,000 after acquiring an additional 1,248,465 shares in the last quarter. 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 worth $25,000 after acquiring an additional 1,729 shares during the period. KBC Group NV increased its position in shares of Alight by 89.2% during the fourth quarter. KBC Group NV now owns 22,802 shares of the company's stock worth $158,000 after acquiring an additional 10,753 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Alight in the fourth quarter valued at $893,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Insider Activity

In other news, Director Robert A. Schriesheim acquired 22,092 shares of Alight stock in a transaction on Monday, March 3rd. The stock was bought 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 in the company, valued at $150,004.68. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Massey bought 100,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the transaction, the director now owns 1,573,489 shares of the company's stock, valued at approximately $10,054,594.71. The trade was a 6.79% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 125,092 shares of company stock worth $807,755. Corporate insiders own 5.33% of the company's stock.

Analyst Upgrades and Downgrades

ALIT has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $9.00 target price on shares of Alight in a research note on Monday, March 24th. Wedbush decreased their price objective 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 reissued a "buy" rating and set a $10.00 price objective on shares of Alight in a research report on Wednesday, March 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Alight currently has an average rating of "Moderate Buy" and a consensus price target of $9.94.

Alight Stock Up 0.4%

Alight stock traded up $0.03 during midday trading on Friday, reaching $5.78. The company's stock had a trading volume of 1,559,230 shares, compared to its average volume of 8,236,697. The company has a market cap of $3.14 billion, a P/E ratio of -19.25 and a beta of 0.99. 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 business has a 50-day simple moving average of $5.50 and a 200-day simple moving average of $6.52. Alight, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last issued its earnings results 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 business had revenue of $548.00 million for the quarter, compared to analyst estimates of $542.66 million. Alight had a positive return on equity of 5.42% and a negative net margin of 5.53%. Alight's revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business 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 2.77%. Alight's dividend payout ratio is presently -114.29%.

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.