Cornerstone Investment Partners LLC Grows Stake in Alight, Inc. (NYSE:ALIT)

Cornerstone Investment Partners LLC lifted its position in Alight, Inc. (NYSE:ALIT) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Alight by 107.6% during the 4th quarter. Blue Trust Inc. now owns 3,336 shares of the company’s stock worth $25,000 after acquiring an additional 1,729 shares during the period. Public Employees Retirement System of Ohio lifted its position in Alight by 65.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,042 shares of the company’s stock worth $37,000 after acquiring an additional 1,996 shares during the period. Venturi Wealth Management LLC acquired a new stake in Alight during the 4th quarter worth approximately $50,000. Oppenheimer & Co. Inc. acquired a new stake in Alight during the 3rd quarter worth approximately $74,000. Finally, Nisa Investment Advisors LLC lifted its position in Alight by 54.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,547 shares of the company’s stock worth $85,000 after acquiring an additional 4,049 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Alight Stock Performance

NYSE ALIT opened at $6.57 on Tuesday. Alight, Inc. has a 1-year low of $6.15 and a 1-year high of $10.38. The company has a market capitalization of $3.57 billion, a P/E ratio of -21.90 and a beta of 0.94. The business has a 50 day moving average price of $6.79 and a 200 day moving average price of $7.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Alight (NYSE:ALIT) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share 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 firm had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $675.66 million. Sell-side analysts expect that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given 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%.

Analysts Set New Price Targets

Several analysts have recently commented on ALIT shares. Canaccord Genuity Group raised their price target on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Alight in a report on Friday, February 21st. Finally, KeyCorp raised their price target on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.61.

Alight Company 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.