State Street Corp Acquires 141,828 Shares of Alight, Inc. (NYSE:ALIT)

State Street Corp grew its holdings in Alight, Inc. (NYSE:ALIT) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,905,766 shares of the company’s stock after acquiring an additional 141,828 shares during the quarter. State Street Corp owned 2.18% of Alight worth $88,103,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in Alight by 65.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Alight in the third quarter valued at approximately $74,000. KBC Group NV grew its stake in Alight by 24.0% in 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 in the last quarter. FMR LLC grew its stake in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after purchasing an additional 3,689 shares in the last quarter. Finally, Ingalls & Snyder LLC grew its stake in Alight by 20.9% in the second quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock valued at $95,000 after purchasing an additional 2,235 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp raised their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC raised their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup dropped their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group raised their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Alight Trading Down 1.0 %

Shares of ALIT stock opened at $7.09 on Tuesday. The firm has a market capitalization of $3.85 billion, a P/E ratio of -14.77 and a beta of 0.92. Alight, Inc. has a twelve month low of $6.15 and a twelve month high of $10.38. 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 stock’s fifty day simple moving average is $7.46 and its 200 day simple moving average is $7.32.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. Alight’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. As a group, sell-side analysts predict that Alight, Inc. will post 0.47 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, December 2nd.

Insiders Place Their Bets

In other news, President Gregory R. Goff sold 250,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.00, for a total value of $2,000,000.00. Following the transaction, the president now directly owns 852,694 shares of the company’s stock, valued at $6,821,552. The trade was a 22.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory A. George sold 84,929 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $7.60, for a total value of $645,460.40. Following the completion of the transaction, the insider now directly owns 223,327 shares in the company, valued at $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. In the last three months, insiders have sold 5,334,929 shares of company stock valued at $43,895,460. 5.33% of the stock is currently owned by company 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.