Zurcher Kantonalbank Zurich Cantonalbank Has $868,000 Holdings in Alight, Inc. (NYSE:ALIT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alight, Inc. (NYSE:ALIT) by 41.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,482 shares of the company’s stock after acquiring an additional 37,030 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alight were worth $868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of 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 during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of 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 purchasing an additional 1,996 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Alight in the fourth quarter valued at $50,000. Oppenheimer & Co. Inc. bought a new stake in Alight in the third quarter valued at about $74,000. Finally, KBC Group NV raised its stake in Alight by 24.0% during the third quarter. KBC Group NV now owns 12,049 shares of the company’s stock worth $89,000 after acquiring an additional 2,331 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Insider Activity

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $6.79 per share, for a total transaction of $150,004.68. Following the transaction, the director now directly owns 22,092 shares in the company, valued at $150,004.68. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Massey acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $6.39 per share, with a total value of $639,000.00. Following the purchase, the director now owns 1,573,489 shares in the company, valued at $10,054,594.71. The trade was a 6.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 125,092 shares of company stock worth $807,755. Insiders own 5.33% of the company’s stock.

Alight Trading Down 2.4 %

NYSE ALIT opened at $6.03 on Friday. The company has a market cap of $3.27 billion, a PE ratio of -20.08 and a beta of 0.94. Alight, Inc. has a 12 month low of $5.87 and a 12 month high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $6.63 and a 200-day moving average of $7.05.

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

Alight Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 3rd. Alight’s dividend payout ratio is presently -53.33%.

Analysts Set New Price Targets

Separately, 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.61.

Alight Company 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.