Alight, Inc. $ALIT Shares Acquired by Comerica Bank

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Starboard Value LP boosted its stake in Alight by 8.8% during the 4th quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after purchasing an additional 3,833,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Alight by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company's stock worth $251,606,000 after purchasing an additional 1,548,078 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Alight by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock worth $146,173,000 after purchasing an additional 1,930,440 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Alight by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 17,624,572 shares of the company's stock worth $121,961,000 after purchasing an additional 229,466 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Alight by 18.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock worth $87,686,000 after purchasing an additional 2,015,579 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ALIT. 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 research note 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 research note on Wednesday, August 6th. Finally, Needham & Company LLC lowered their target price 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. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $8.75.

Alight Stock Performance

Shares of Alight stock opened at $3.92 on Thursday. Alight, Inc. has a 52 week low of $3.62 and a 52 week high of $8.93. The business's fifty day simple moving average is $4.87 and its 200-day simple moving average is $5.40. The firm has a market cap of $2.11 billion, a PE ratio of -1.77 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64.

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

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's dividend payout ratio is -7.24%.

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.

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