Charles Schwab Investment Management Inc. Buys 506,666 Shares of Alight, Inc. $ALIT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Alight, Inc. by 9.3%, resulting in ownership of approximately 5.9 million shares worth about $35.2 million.
• Alight recently declared a quarterly dividend of $0.04 per share, with an annualized dividend yield of 4.1%.
• Analysts have lowered Alight's price targets, with estimates now ranging from $6.00 to $7.00, while maintaining a consensus rating of "Moderate Buy."

Charles Schwab Investment Management Inc. boosted its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,936,028 shares of the company's stock after acquiring an additional 506,666 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.09% of Alight worth $35,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its stake in Alight by 40.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock valued at $49,000 after acquiring an additional 2,059 shares during the period. Amalgamated Bank grew its stake in Alight by 17.2% during the first quarter. Amalgamated Bank now owns 14,534 shares of the company's stock worth $86,000 after buying an additional 2,133 shares during the last quarter. Winslow Asset Management Inc. grew its stake in Alight by 18.6% during the first quarter. Winslow Asset Management Inc. now owns 15,905 shares of the company's stock worth $94,000 after buying an additional 2,500 shares during the last quarter. Shay Capital LLC grew its stake in Alight by 2.4% during the fourth quarter. Shay Capital LLC now owns 128,000 shares of the company's stock worth $886,000 after buying an additional 3,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Alight by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company's stock worth $309,000 after buying an additional 3,273 shares during the last quarter. Institutional investors own 96.74% of the company's stock.

Alight Trading Up 2.5%

ALIT traded up $0.0950 during mid-day trading on Friday, hitting $3.8550. The stock had a trading volume of 10,194,170 shares, compared to its average volume of 9,386,245. The stock's fifty day simple moving average is $5.11 and its 200-day simple moving average is $5.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -1.74 and a beta of 1.00. Alight, Inc. has a 1-year low of $3.62 and a 1-year high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $528.00 million for the quarter, compared to analyst estimates of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The business's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.04 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.16 annualized dividend and a yield of 4.2%. Alight's dividend payout ratio (DPR) is -7.24%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ALIT shares. UBS Group decreased their price objective on shares of Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC decreased their price target on shares of Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Wedbush decreased their price target on shares of Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $9.07.

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.