Allianz Asset Management GmbH Has $334,000 Stock Holdings in Alight, Inc. (NYSE:ALIT)

Key Points

• Allianz Asset Management GmbH reduced its stake in Alight, Inc. by 84.3% in the first quarter, owning 56,371 shares valued at $334,000 after selling 302,447 shares.
• Alight, Inc. reported $0.10 earnings per share for the quarter, missing estimates of $0.12, with a 2.0% year-over-year decline in revenue.
• The company recently declared a quarterly dividend of $0.04 per share, representing an annualized yield of 3.1%, despite a negative dividend payout ratio of -114.29%.

Allianz Asset Management GmbH trimmed its position in Alight, Inc. (NYSE:ALIT - Free Report) by 84.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,371 shares of the company's stock after selling 302,447 shares during the period. Allianz Asset Management GmbH's holdings in Alight were worth $334,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after acquiring an additional 4,006 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Alight by 5,505.8% in the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock valued at $46,000 after purchasing an additional 7,653 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Alight by 40.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,101 shares of the company's stock worth $49,000 after buying an additional 2,059 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Alight during the 1st quarter worth $52,000. Finally, Sandia Investment Management LP purchased a new position in shares of Alight in the 4th quarter worth $69,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alight news, Director David D. Guilmette purchased 50,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were bought at an average cost of $5.69 per share, with a total value of $284,500.00. Following the transaction, the director directly owned 600,750 shares in the company, valued at approximately $3,418,267.50. This represents a 9.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wedbush dropped their price objective on shares of Alight from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price target on shares of Alight in a report on Friday, June 20th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.86.

Alight Stock Up 0.9%

Shares of NYSE:ALIT traded up $0.04 during trading on Monday, reaching $5.14. 3,618,801 shares of the company traded hands, compared to its average volume of 5,493,980. The firm has a fifty day simple moving average of $5.54 and a 200 day simple moving average of $5.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. Alight, Inc. has a 1-year low of $4.49 and a 1-year high of $8.93. The firm has a market cap of $2.77 billion, a P/E ratio of -36.74 and a beta of 1.00.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). Alight had a negative net margin of 2.65% and a positive return on equity of 5.74%. The company had revenue of $548.00 million during the quarter, compared to the consensus estimate of $542.66 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. Analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

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 given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 3.1%. Alight's payout ratio is currently -114.29%.

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.