Posted by ABMN Staff on Jul 5th, 2024
PNC Financial Services Group Inc. decreased its holdings in shares of Alight, Inc. (NYSE:ALIT – Free Report) by 57.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,453 shares of the company’s stock after selling 23,996 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alight were worth $149,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Greenlight Capital Inc. bought a new position in Alight in the fourth quarter valued at approximately $78,831,000. Norges Bank bought a new stake in shares of Alight during the 4th quarter valued at $42,947,000. UBS Group AG lifted its stake in shares of Alight by 1,767.5% in the 4th quarter. UBS Group AG now owns 4,998,050 shares of the company’s stock valued at $42,633,000 after purchasing an additional 4,730,410 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Alight by 33.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,171,721 shares of the company’s stock worth $103,826,000 after purchasing an additional 3,018,711 shares during the last quarter. Finally, Fidelity National Financial Inc. grew its stake in shares of Alight by 11.5% during the fourth quarter. Fidelity National Financial Inc. now owns 22,300,000 shares of the company’s stock worth $190,219,000 after purchasing an additional 2,300,000 shares during the period. 96.74% of the stock is owned by institutional investors.
Insider Activity at Alight
In other news, CEO Stephan Scholl sold 83,016 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the completion of the transaction, the chief executive officer now directly owns 8,115,183 shares of the company’s stock, valued at approximately $771,753,903.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.33% of the stock is owned by insiders.
Alight Stock Up 0.1 %
Shares of ALIT stock opened at $7.10 on Friday. Alight, Inc. has a 12-month low of $6.33 and a 12-month high of $10.38. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $7.84 and a 200-day moving average of $8.61. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -11.45, a P/E/G ratio of 1.39 and a beta of 0.87.
Alight (NYSE:ALIT – Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Alight had a positive return on equity of 5.14% and a negative net margin of 9.19%. The firm had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $832.41 million. As a group, equities research analysts predict that Alight, Inc. will post 0.52 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ALIT has been the topic of several analyst reports. KeyCorp cut their target price on Alight from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Wedbush cut their price target on shares of Alight from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. UBS Group boosted their price objective on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Bank of America cut their target price on shares of Alight from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Finally, Canaccord Genuity Group boosted their price target on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alight has a consensus rating of “Buy” and an average price target of $11.72.
View Our Latest Analysis on ALIT
Alight 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.
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