Swiss National Bank Boosts Holdings in Alight, Inc. (NYSE:ALIT)

Swiss National Bank grew its position in shares of Alight, Inc. (NYSE:ALIT) by 5.0% during the third quarter, HoldingsChannel reports. The firm owned 792,100 shares of the company’s stock after buying an additional 38,000 shares during the period. Swiss National Bank’s holdings in Alight were worth $5,862,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. KBC Group NV raised its stake in shares of Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after purchasing an additional 2,331 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Alight during the third quarter worth approximately $74,000. MQS Management LLC acquired a new stake in shares of Alight during the third quarter worth approximately $124,000. State of New Jersey Common Pension Fund D grew its position in shares of Alight by 11.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 270,611 shares of the company’s stock worth $2,003,000 after buying an additional 26,856 shares in the last quarter. Finally, Atria Investments Inc grew its position in shares of Alight by 36.0% during the third quarter. Atria Investments Inc now owns 33,144 shares of the company’s stock worth $245,000 after buying an additional 8,782 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

Shares of ALIT opened at $7.99 on Thursday. Alight, Inc. has a 1 year low of $6.15 and a 1 year high of $10.38. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -16.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a fifty day moving average of $7.38 and a 200-day moving average of $7.35.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Alight, Inc. will post 0.47 earnings per share for the current year.

Alight Dividend Announcement

The company also recently declared a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Insider Activity

In related news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the sale, the director now directly owns 883,323 shares in the company, valued at $7,287,414.75. The trade was a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory A. George sold 84,929 shares of Alight stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $7.60, for a total transaction of $645,460.40. Following the sale, the insider now owns 223,327 shares in the company, valued at approximately $1,697,285.20. This represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wedbush decreased their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup decreased their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC lifted their price objective on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp lifted their price objective on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

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.