Northern Trust Corp Has $28.43 Million Stock Position in Alight, Inc. (NYSE:ALIT)

Northern Trust Corp grew its position in shares of Alight, Inc. (NYSE:ALIT) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,107,761 shares of the company’s stock after acquiring an additional 222,725 shares during the quarter. Northern Trust Corp owned 0.76% of Alight worth $28,426,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Alight by 107.6% in the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock valued at $25,000 after acquiring an additional 1,729 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Alight in the fourth quarter worth $50,000. Headlands Technologies LLC bought a new position in shares of Alight in the fourth quarter worth $84,000. Sterling Capital Management LLC boosted its stake in Alight by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 13,224 shares of the company’s stock valued at $92,000 after buying an additional 11,783 shares in the last quarter. Finally, Winslow Asset Management Inc. acquired a new stake in Alight in the fourth quarter valued at about $93,000. Institutional investors own 96.74% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Alight in a research note on Monday, March 24th. Wedbush cut their price objective on Alight from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, DA Davidson reiterated a “buy” rating and issued a $10.00 target price on shares of Alight in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.94.

Alight Trading Down 0.5%

Shares of Alight stock opened at $5.58 on Monday. The stock has a market capitalization of $3.03 billion, a PE ratio of -18.60 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. Alight, Inc. has a 52 week low of $4.49 and a 52 week high of $8.93. The stock has a 50 day moving average price of $5.54 and a two-hundred day moving average price of $6.55.

Alight (NYSE:ALIT) last announced its earnings results on Thursday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The company had revenue of $548.00 million for the quarter, compared to analysts’ expectations of $542.66 million. Alight had a negative net margin of 5.53% and a positive return on equity of 5.42%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. As a group, equities analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.16 annualized dividend and a yield of 2.87%. Alight’s dividend payout ratio is currently -114.29%.

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.