Russell Investments Group Ltd. Has $1.75 Million Stock Position in Alight, Inc. (NYSE:ALIT)

Russell Investments Group Ltd. decreased its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 23.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 252,799 shares of the company's stock after selling 76,064 shares during the quarter. Russell Investments Group Ltd.'s holdings in Alight were worth $1,749,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ALIT. Blue Trust Inc. boosted its stake in 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 buying an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Alight by 65.5% during the third quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company's stock valued at $37,000 after buying an additional 1,996 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Alight during the fourth quarter valued at about $50,000. Headlands Technologies LLC acquired a new position in shares of Alight in the 4th quarter valued at $84,000. Finally, FMR LLC boosted its position in shares of Alight by 44.4% in the 3rd quarter. FMR LLC now owns 11,995 shares of the company's stock valued at $89,000 after purchasing an additional 3,689 shares during the period. Institutional investors own 96.74% of the company's stock.

Alight Stock Up 1.6 %

Alight stock traded up $0.08 during mid-day trading on Thursday, hitting $5.14. The company's stock had a trading volume of 1,125,203 shares, compared to its average volume of 6,173,256. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The firm's 50 day moving average is $5.89 and its 200 day moving average is $6.72. The company has a market cap of $2.79 billion, a PE ratio of -17.08 and a beta of 0.97. Alight, Inc. has a 52-week low of $4.49 and a 52-week high of $9.45.

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

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, March 3rd. Alight's dividend payout ratio is -53.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALIT shares. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of Alight in a research 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 report on Monday, March 24th. Finally, DA Davidson reiterated a "buy" rating and issued a $10.00 price target 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 issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.19.

Insider Activity

In other news, Director Robert A. Schriesheim bought 22,092 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 22,092 shares of the company's stock, valued at $150,004.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard N. Massey acquired 100,000 shares of the stock in a transaction on Monday, March 10th. The stock was bought at an average price of $6.39 per share, with a total value of $639,000.00. Following the transaction, the director now directly owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 125,092 shares of company stock worth $807,755. 5.33% of the stock is currently owned by corporate insiders.

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.