Rhumbline Advisers Reduces Stock Position in Alight, Inc. (NYSE:ALIT)

Rhumbline Advisers reduced its position in Alight, Inc. (NYSE:ALIT) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 669,136 shares of the company’s stock after selling 8,799 shares during the quarter. Rhumbline Advisers’ holdings in Alight were worth $4,630,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Alight by 107.6% in the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Alight in the third quarter worth about $74,000. Nisa Investment Advisors LLC increased its stake in Alight by 54.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock worth $85,000 after purchasing an additional 4,049 shares during the period. Finally, Soros Fund Management LLC purchased a new stake in Alight during the 3rd quarter valued at $89,000. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 2.4 %

NYSE ALIT opened at $6.76 on Friday. Alight, Inc. has a 52 week low of $6.15 and a 52 week 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 company has a market capitalization of $3.67 billion, a P/E ratio of -22.52 and a beta of 0.94. The stock’s 50-day moving average price is $6.80 and its 200-day moving average price is $7.14.

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

Alight Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio (DPR) is presently -53.33%.

Analyst Upgrades and Downgrades

ALIT has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Alight in a report on Friday, February 21st. Finally, KeyCorp upped their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.61.

About Alight

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.