Charles Schwab Investment Management Inc. Acquires 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. raised its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,936,028 shares of the company's stock after buying an additional 506,666 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.09% of Alight worth $35,201,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ALIT. Starboard Value LP grew its holdings in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock valued at $326,818,000 after purchasing an additional 3,833,000 shares during the last quarter. J. Goldman & Co LP grew its holdings in shares of Alight by 105.3% during the fourth quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock valued at $39,960,000 after purchasing an additional 2,961,443 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Alight by 13.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after purchasing an additional 2,901,108 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new position in shares of Alight during the fourth quarter valued at approximately $19,581,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Alight by 18.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock valued at $87,686,000 after purchasing an additional 2,015,579 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALIT has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their price objective on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wedbush decreased their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Finally, UBS Group decreased their price objective on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, Alight presently has an average rating of "Buy" and a consensus price target of $9.07.

Alight Price Performance

Shares of NYSE:ALIT traded up $0.1250 on Friday, reaching $3.8850. 3,849,909 shares of the company traded hands, compared to its average volume of 8,028,965. Alight, Inc. has a fifty-two week low of $3.62 and a fifty-two week high of $8.93. The company's 50 day moving average is $5.13 and its 200-day moving average is $5.57. The stock has a market capitalization of $2.10 billion, a PE ratio of -1.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16.

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

Alight Announces Dividend

The firm 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 dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's payout ratio is currently -7.24%.

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.