Alight, Inc. (NYSE:ALIT) Plans Quarterly Dividend of $0.04

Alight, Inc. (NYSE:ALIT - Get Free Report) announced a quarterly dividend on Wednesday, July 23rd, RTT News reports. Investors of record on Tuesday, September 2nd will be paid a dividend of 0.04 per share on Monday, September 15th. This represents a $0.16 annualized dividend and a yield of 2.78%. The ex-dividend date is Tuesday, September 2nd.

Alight has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alight to earn $0.66 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 24.2%.

Alight Price Performance

ALIT stock traded up $0.07 during mid-day trading on Friday, reaching $5.76. 1,563,499 shares of the company traded hands, compared to its average volume of 7,819,880. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $3.10 billion, a P/E ratio of -41.03 and a beta of 1.00. Alight has a 52-week low of $4.49 and a 52-week high of $8.93. The company has a fifty day moving average price of $5.55 and a 200-day moving average price of $5.90.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $548.00 million for the quarter, compared to analysts' expectations of $542.66 million. Alight had a positive return on equity of 5.74% and a negative net margin of 2.65%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. As a group, analysts anticipate that Alight will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

ALIT has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $8.00 target price on shares of Alight in a research note on Friday, June 20th. Wedbush lowered their price target on Alight from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.86.

Insider Transactions at Alight

In other news, Director David D. Guilmette bought 50,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were acquired at an average cost of $5.69 per share, with a total value of $284,500.00. Following the completion of the transaction, the director owned 600,750 shares of the company's stock, valued at approximately $3,418,267.50. This trade represents a 9.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.93% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alight by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company's stock valued at $6,091,000 after purchasing an additional 66,771 shares during the period. Intech Investment Management LLC raised its stake in Alight by 50.1% during the 1st quarter. Intech Investment Management LLC now owns 249,889 shares of the company's stock valued at $1,482,000 after purchasing an additional 83,420 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Alight by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company's stock valued at $1,481,000 after purchasing an additional 10,893 shares during the period. Royal Bank of Canada raised its stake in Alight by 3.6% during the 1st quarter. Royal Bank of Canada now owns 159,901 shares of the company's stock valued at $948,000 after purchasing an additional 5,525 shares during the period. Finally, AQR Capital Management LLC bought a new stake in Alight during the 1st quarter valued at approximately $434,000. Institutional investors own 96.74% of the company's stock.

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.