Cornerstone Investment Partners LLC Raises Holdings in Alight, Inc. (NYSE:ALIT)

Cornerstone Investment Partners LLC increased its position in shares of Alight, Inc. (NYSE:ALIT) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,673 shares of the company’s stock after purchasing an additional 2,356 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Alight were worth $468,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ALIT. Nisa Investment Advisors LLC increased its position in shares of Alight by 54.0% during the third 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 in the last quarter. US Bancorp DE increased its position in shares of Alight by 3,543.6% during the third quarter. US Bancorp DE now owns 20,404 shares of the company’s stock worth $151,000 after purchasing an additional 19,844 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Alight during the third quarter worth approximately $105,000. River Road Asset Management LLC increased its position in shares of Alight by 2.9% during the third quarter. River Road Asset Management LLC now owns 9,988,254 shares of the company’s stock worth $73,913,000 after purchasing an additional 286,133 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Alight by 36.0% during the third quarter. Atria Investments Inc now owns 33,144 shares of the company’s stock worth $245,000 after purchasing an additional 8,782 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Alight Stock Performance

Shares of Alight stock opened at $6.57 on Tuesday. Alight, Inc. has a 52 week low of $6.15 and a 52 week high of $10.38. The business’s fifty day simple moving average is $6.79 and its 200-day simple moving average is $7.14. The firm has a market cap of $3.57 billion, a PE ratio of -21.90 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last announced 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). Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The business had revenue of $680.00 million during the quarter, compared to analyst estimates of $675.66 million. Equities analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 yield of 2.44%. The ex-dividend date of this dividend is Monday, March 3rd. Alight’s payout ratio is -53.33%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Alight in a research note on Friday, February 21st. Canaccord Genuity Group boosted their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp boosted their price objective on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently 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.