Alight, Inc. $ALIT Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Alight, Inc. by 130.6%, owning 582,836 shares valued at approximately $3.46 million as of the last quarter.
• Alight's recent earnings report showed it met analyst expectations with earnings per share of $0.10, despite a revenue decline of 1.9% year-over-year.
• The company announced a quarterly dividend of $0.04, translating to an annualized yield of 4.2%, with a negative dividend payout ratio of -7.24%.

Russell Investments Group Ltd. boosted its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 130.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 582,836 shares of the company's stock after purchasing an additional 330,037 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Alight worth $3,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALIT. Starboard Value LP lifted its position 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 in the last quarter. Vanguard Group Inc. raised 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 valued at $251,606,000 after buying an additional 1,548,078 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in Alight by 13.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after buying an additional 2,901,108 shares during the last quarter. Janus Henderson Group PLC raised 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 valued at $121,961,000 after buying an additional 229,466 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Alight by 18.9% in 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 in the last quarter. 96.74% of the stock is owned by institutional investors.

Alight Stock Performance

NYSE ALIT traded down $0.03 on Thursday, reaching $3.89. 2,219,646 shares of the company's stock traded hands, compared to its average volume of 8,000,502. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -1.76 and a beta of 1.00. The stock has a 50 day moving average price of $5.02 and a 200-day moving average price of $5.49. Alight, Inc. has a fifty-two week low of $3.62 and a fifty-two week high of $8.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16.

Alight (NYSE:ALIT - Get Free Report) last posted 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. The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The firm's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Equities research analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.16 annualized dividend and a dividend yield of 4.1%. Alight's dividend payout ratio is -7.24%.

Wall Street Analysts Forecast Growth

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

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.