Alight, Inc. (NYSE:ALIT) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Alight, Inc. (NYSE:ALITFree Report) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,350 shares of the company’s stock after selling 4,895 shares during the period. Principal Financial Group Inc.’s holdings in Alight were worth $466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Xponance Inc. increased its stake in shares of Alight by 5.7% in the fourth quarter. Xponance Inc. now owns 25,035 shares of the company’s stock worth $214,000 after buying an additional 1,353 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Alight by 38.9% in the fourth quarter. First Horizon Advisors Inc. now owns 6,776 shares of the company’s stock worth $58,000 after purchasing an additional 1,897 shares during the period. FourThought Financial Partners LLC boosted its holdings in Alight by 10.2% in the fourth quarter. FourThought Financial Partners LLC now owns 27,673 shares of the company’s stock worth $236,000 after purchasing an additional 2,552 shares during the period. Saxon Interests Inc. boosted its holdings in Alight by 15.4% in the first quarter. Saxon Interests Inc. now owns 19,668 shares of the company’s stock worth $194,000 after purchasing an additional 2,632 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in Alight by 6.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 60,768 shares of the company’s stock worth $518,000 after purchasing an additional 3,856 shares during the period. Institutional investors own 96.74% of the company’s stock.

Alight Price Performance

Shares of Alight stock opened at $7.10 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $7.80 and its two-hundred day moving average price is $8.61. Alight, Inc. has a 52 week low of $6.33 and a 52 week high of $10.38.

Alight (NYSE:ALITGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Alight had a negative net margin of 9.19% and a positive return on equity of 5.14%. The firm had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $832.41 million. Equities research analysts expect that Alight, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALIT has been the subject of a number of research reports. Wedbush decreased their price objective on shares of Alight from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Alight in a report on Monday, July 1st. UBS 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. Bank of America reduced their price target on shares of Alight from $10.00 to $9.50 and set a “buy” rating for the company in a report on Tuesday, June 25th. Finally, KeyCorp reduced their price target on shares of Alight from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $11.72.

View Our Latest Research Report on Alight

Insiders Place Their Bets

In other Alight news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at approximately $771,753,903.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.33% of the company’s stock.

Alight Profile

(Free Report)

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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Institutional Ownership by Quarter for Alight (NYSE:ALIT)

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