Comerica Bank Grows Holdings in Alight, Inc. $ALIT

Key Points

• Comerica Bank increased its stake in Alight, Inc. by 45.2%, now holding 260,743 shares valued at approximately $1.5 million.
• Despite recent analyst downgrades to target prices, Alight maintains an average rating of "Buy" among analysts, with a projected average price target of $8.75.
• The company announced a quarterly dividend of $0.04 per share, resulting in an annualized yield of 4.1%, with the dividend payout ratio currently at -7.24%.

Comerica Bank raised its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,743 shares of the company's stock after acquiring an additional 81,174 shares during the quarter. Comerica Bank's holdings in Alight were worth $1,546,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALIT. Starboard Value LP raised its holdings in Alight by 8.8% in the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock valued at $326,818,000 after acquiring an additional 3,833,000 shares during the period. J. Goldman & Co LP raised its holdings in Alight by 105.3% in the 4th quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock valued at $39,960,000 after acquiring an additional 2,961,443 shares during the period. American Century Companies Inc. raised its holdings in Alight by 50.4% in the 1st quarter. American Century Companies Inc. now owns 6,920,646 shares of the company's stock valued at $41,039,000 after acquiring an additional 2,319,685 shares during the period. Ameriprise Financial Inc. raised its holdings in Alight by 18.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock valued at $87,686,000 after acquiring an additional 2,015,579 shares during the period. Finally, Nuveen LLC bought a new position in Alight in the 1st quarter valued at about $11,707,000. 96.74% of the stock is owned by institutional investors.

Alight Price Performance

Alight stock traded down $0.07 during mid-day trading on Tuesday, reaching $3.69. The company had a trading volume of 1,272,336 shares, compared to its average volume of 8,035,254. The company has a market cap of $1.99 billion, a P/E ratio of -1.67 and a beta of 1.02. The business has a fifty day simple moving average of $4.76 and a 200 day simple moving average of $5.31. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. Alight, Inc. has a fifty-two week low of $3.62 and a fifty-two week high of $8.93.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates 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%. Alight's revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, equities research analysts predict that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's payout ratio is -7.24%.

Analysts Set New Price Targets

Several research firms have weighed in on ALIT. Needham & Company LLC lowered their price target on shares of Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wedbush lowered their target price on shares of Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Finally, UBS Group lowered their target price on shares of Alight from $10.00 to $6.50 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Alight presently has an average rating of "Buy" and a consensus target price of $8.75.

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.