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

Alight, Inc. (NYSE:ALIT - Get Free Report) declared a quarterly dividend on Wednesday, July 23rd, RTT News reports. Stockholders 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 dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Alight has a dividend 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

Shares of ALIT stock traded up $0.08 during mid-day trading on Friday, hitting $5.77. 2,769,427 shares of the stock traded hands, compared to its average volume of 6,108,711. Alight has a twelve month low of $4.49 and a twelve month high of $8.93. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 12.26 and a beta of 1.00. The company's 50-day simple moving average is $5.55 and its 200-day simple moving average is $5.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Alight in a research note on Friday, June 20th. Wedbush reduced their price objective on Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $9.86.

Insiders Place Their Bets

In other Alight news, Director David D. Guilmette bought 50,000 shares of the stock in a transaction on Tuesday, May 20th. The shares were bought at an average price of $5.69 per share, with a total value of $284,500.00. Following the purchase, the director directly owned 600,750 shares in the company, valued at $3,418,267.50. The trade was a 9.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALIT. Strs Ohio purchased a new stake in Alight in the 1st quarter worth approximately $25,000. Jones Financial Companies Lllp boosted its position in Alight by 1,776.2% during the first quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company's stock valued at $67,000 after purchasing an additional 10,657 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Alight during the first quarter valued at $434,000. Royal Bank of Canada boosted its position in Alight by 3.6% during the first 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Alight by 4.6% during the first 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 last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

About Alight

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.