Alight, Inc. (NYSE:ALIT) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lowered its holdings in shares of Alight, Inc. (NYSE:ALIT) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,973,052 shares of the company’s stock after selling 15,202 shares during the period. River Road Asset Management LLC owned 1.84% of Alight worth $69,014,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Alight by 41.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,482 shares of the company’s stock worth $868,000 after buying an additional 37,030 shares during the period. Raymond James Financial Inc. acquired a new stake in Alight during the 4th quarter worth approximately $3,783,000. Arizona State Retirement System lifted its position in Alight by 6.4% during the 4th quarter. Arizona State Retirement System now owns 124,290 shares of the company’s stock worth $860,000 after acquiring an additional 7,448 shares during the period. M&T Bank Corp lifted its position in Alight by 16.4% during the 4th quarter. M&T Bank Corp now owns 435,276 shares of the company’s stock worth $3,013,000 after acquiring an additional 61,271 shares during the period. Finally, Atria Investments Inc lifted its holdings in shares of Alight by 15.1% during the fourth quarter. Atria Investments Inc now owns 38,137 shares of the company’s stock worth $264,000 after purchasing an additional 4,993 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Transactions at Alight

In related news, Director Robert A. Schriesheim acquired 22,092 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased 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 of the company’s stock, valued at approximately $150,004.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALIT shares. Canaccord Genuity Group increased their price target on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Alight in a research note on Friday, February 21st. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.61.

Alight Stock Down 2.9 %

Shares of NYSE ALIT opened at $6.18 on Tuesday. The firm has a 50-day moving average price of $6.74 and a 200 day moving average price of $7.12. 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 stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -20.58 and a beta of 0.94.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The company had revenue of $680.00 million for the quarter, compared to analyst estimates of $675.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. Equities research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal 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 paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s dividend payout ratio (DPR) is presently -53.33%.

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.