Alight, Inc. (NYSE:ALIT) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its holdings in shares of Alight, Inc. (NYSE:ALIT) by 16.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 116,200 shares of the company’s stock after selling 23,000 shares during the period. Handelsbanken Fonder AB’s holdings in Alight were worth $804,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Rubric Capital Management LP lifted its stake in Alight by 38.3% in the 3rd quarter. Rubric Capital Management LP now owns 11,646,679 shares of the company’s stock valued at $86,185,000 after buying an additional 3,223,617 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Alight in the 4th quarter valued at about $10,853,000. JPMorgan Chase & Co. lifted its stake in Alight by 202.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,864,038 shares of the company’s stock valued at $13,794,000 after buying an additional 1,248,465 shares in the last quarter. Highland Peak Capital LLC purchased a new position in Alight in the 3rd quarter valued at about $5,315,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alight by 16.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,898,593 shares of the company’s stock valued at $36,250,000 after buying an additional 699,375 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Alight Stock Up 0.9 %

ALIT stock opened at $6.83 on Friday. The firm has a market cap of $3.71 billion, a PE ratio of -22.77 and a beta of 0.94. 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’s 50 day moving average price is $6.80 and its 200-day moving average price is $7.14. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38.

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

Alight Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, March 3rd. Alight’s payout ratio is presently -53.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALIT. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Alight in a research note on Friday, February 21st. Canaccord Genuity Group raised their target price on shares of Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp raised their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.