Arizona State Retirement System Grows Holdings in Alight, Inc. (NYSE:ALIT)

Arizona State Retirement System lifted its position in Alight, Inc. (NYSE:ALITFree Report) by 14.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,104 shares of the company’s stock after purchasing an additional 11,512 shares during the quarter. Arizona State Retirement System’s holdings in Alight were worth $653,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of Alight during the 3rd quarter worth $775,000. Principal Financial Group Inc. raised its position in Alight by 39.0% in the 3rd quarter. Principal Financial Group Inc. now owns 58,809 shares of the company’s stock valued at $417,000 after purchasing an additional 16,507 shares in the last quarter. M&T Bank Corp raised its position in Alight by 16.4% in the 3rd quarter. M&T Bank Corp now owns 348,234 shares of the company’s stock valued at $2,469,000 after purchasing an additional 48,964 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in Alight by 13.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,315 shares of the company’s stock valued at $123,000 after purchasing an additional 2,082 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Alight by 12.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 25,065 shares of the company’s stock valued at $178,000 after purchasing an additional 2,697 shares in the last quarter. 79.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group raised their target price on Alight from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Canaccord Genuity Group assumed coverage on Alight in a research report on Wednesday, December 6th. They set a “buy” rating and a $12.00 target price on the stock. Citigroup reissued a “buy” rating and set a $12.00 target price on shares of Alight in a research report on Friday, January 5th. TheStreet raised Alight from a “d+” rating to a “c-” rating in a research report on Tuesday, December 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Alight in a research note on Monday, December 11th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alight presently has a consensus rating of “Buy” and an average price target of $12.63.

View Our Latest Report on ALIT

Insider Activity

In other news, insider Katie J. Rooney sold 7,100 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $9.00, for a total value of $63,900.00. Following the completion of the sale, the insider now owns 2,999,434 shares in the company, valued at $26,994,906. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.96% of the company’s stock.

Alight Stock Performance

Shares of NYSE:ALIT opened at $9.01 on Thursday. Alight, Inc. has a one year low of $6.33 and a one year high of $10.19. The stock has a fifty day moving average of $8.46 and a 200-day moving average of $7.88. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.57.

Alight Company Profile

(Free Report)

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through Employer Solutions, Professional Services, and Hosted Business segments. 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.

Further Reading

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Institutional Ownership by Quarter for Alight (NYSE:ALIT)

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