Allspring Global Investments Holdings LLC Increases Holdings in Alight, Inc. $ALIT

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in Alight, Inc. by 34.7% during the 2nd quarter, now owning around 3.68 million shares worth approximately $21.32 million.
• Several large investors, including American Century Companies and Vanguard Group, also raised their stakes in Alight, indicating a total institutional ownership of 96.74%.
• Recent analyst reports have resulted in a downward revision of price targets for Alight, with Needham & Company lowering theirs from $8.00 to $6.00 while maintaining a "buy" rating.

Allspring Global Investments Holdings LLC grew its holdings in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 34.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,682,571 shares of the company's stock after purchasing an additional 948,014 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.68% of Alight worth $21,322,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ALIT. American Century Companies Inc. increased its position in shares of Alight by 50.4% during the 1st quarter. American Century Companies Inc. now owns 6,920,646 shares of the company's stock valued at $41,039,000 after purchasing an additional 2,319,685 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Alight during the 1st quarter valued at $11,707,000. Dimensional Fund Advisors LP increased its position in shares of Alight by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company's stock valued at $146,173,000 after purchasing an additional 1,930,440 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 1,548,078 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Alight by 22.3% during the 1st quarter. Neuberger Berman Group LLC now owns 5,985,157 shares of the company's stock valued at $35,509,000 after purchasing an additional 1,092,567 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALIT. 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. 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Alight in a report on Wednesday, October 8th. Finally, 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. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.75.

Alight Stock Down 0.7%

ALIT stock opened at $2.99 on Friday. The firm has a market capitalization of $1.61 billion, a PE ratio of -1.35 and a beta of 1.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $3.53 and a two-hundred day simple moving average of $4.74. Alight, Inc. has a twelve month low of $2.96 and a twelve month 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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The firm had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The company's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, equities analysts predict that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, September 2nd. Alight's dividend payout ratio (DPR) 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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