American Century Companies Inc. Acquires 3,135,846 Shares of Alight, Inc. (NYSE:ALIT)

American Century Companies Inc. lifted its holdings in shares of Alight, Inc. (NYSE:ALIT) by 214.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,600,961 shares of the company’s stock after purchasing an additional 3,135,846 shares during the quarter. American Century Companies Inc.’s holdings in Alight were worth $31,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in Alight by 107.6% during the fourth quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after acquiring an additional 1,729 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Alight by 65.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after purchasing an additional 1,996 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Alight during the 4th quarter worth about $50,000. Soros Fund Management LLC bought a new position in Alight during the 3rd quarter valued at about $89,000. Finally, FMR LLC boosted its position in Alight by 44.4% in the third quarter. FMR LLC now owns 11,995 shares of the company’s stock valued at $89,000 after buying an additional 3,689 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Stock Down 4.9 %

Shares of ALIT opened at $5.91 on Friday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -19.68 and a beta of 0.94. Alight, Inc. has a 52 week low of $5.87 and a 52 week high of $9.92. 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 business’s fifty day moving average price is $6.56 and its two-hundred day moving average price is $7.01.

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

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 2.71%. Alight’s payout ratio is presently -53.33%.

Analysts Set New Price Targets

ALIT has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Alight in a report on Monday, March 24th. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Alight in a research report on Tuesday. Finally, DA Davidson restated a “buy” rating and set a $10.00 target price on shares of Alight in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.19.

Insiders Place Their Bets

In related news, Director Richard N. Massey bought 100,000 shares of Alight stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $6.39 per share, for a total transaction of $639,000.00. Following the completion of the acquisition, the director now owns 1,573,489 shares in the company, valued at approximately $10,054,594.71. This represents a 6.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert A. Schriesheim bought 22,092 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $150,004.68. Following the completion of the transaction, the director now directly owns 22,092 shares in the company, valued at approximately $150,004.68. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 125,092 shares of company stock valued at $807,755. Company insiders own 5.33% of the company’s stock.

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.