State of New Jersey Common Pension Fund D Purchases 26,856 Shares of Alight, Inc. (NYSE:ALIT)

State of New Jersey Common Pension Fund D lifted its position in shares of Alight, Inc. (NYSE:ALIT) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 270,611 shares of the company’s stock after purchasing an additional 26,856 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Alight were worth $2,003,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Alight by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 38,041,368 shares of the company’s stock worth $374,707,000 after buying an additional 2,842,454 shares during the period. Dimensional Fund Advisors LP lifted its stake in Alight by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 21,066,092 shares of the company’s stock worth $155,463,000 after acquiring an additional 3,342,413 shares during the period. Janus Henderson Group PLC boosted its holdings in Alight by 1.8% in the first quarter. Janus Henderson Group PLC now owns 19,060,481 shares of the company’s stock valued at $187,745,000 after acquiring an additional 331,303 shares in the last quarter. Wolf Hill Capital Management LP increased its position in Alight by 28.4% during the 1st quarter. Wolf Hill Capital Management LP now owns 11,097,311 shares of the company’s stock valued at $109,309,000 after purchasing an additional 2,454,870 shares during the period. Finally, River Road Asset Management LLC raised its holdings in Alight by 2.9% in the 3rd 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. 96.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALIT shares. Canaccord Genuity Group lifted their target price on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC upped their target price on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, KeyCorp boosted their target price on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Alight Stock Performance

Shares of ALIT stock opened at $7.73 on Friday. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -16.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.30. Alight, Inc. has a one year low of $6.15 and a one year high of $10.38. The company’s 50-day moving average is $7.28 and its 200 day moving average is $7.40.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. Sell-side analysts expect that Alight, Inc. will post 0.42 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Monday, December 2nd.

Insider Buying and Selling

In related news, Director William P. Foley II sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the sale, the director now owns 883,323 shares in the company, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.33% of the stock is owned by corporate insiders.

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.