American Century Companies Inc. Boosts Stock Holdings in Alight, Inc. $ALIT

Key Points

• American Century Companies Inc. increased its holdings in Alight, Inc. by 50.4%, owning approximately 1.27% of the company with shares valued at $41.04 million.
• Alight recently reported earnings of $0.10 per share, matching consensus estimates, and had quarterly revenues of $528 million, slightly above expectations.
• Alight announced a quarterly dividend of $0.04, with a 4.2% dividend yield, set to be paid on September 15th.

American Century Companies Inc. boosted its position in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 50.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 6,920,646 shares of the company's stock after acquiring an additional 2,319,685 shares during the quarter. American Century Companies Inc. owned about 1.27% of Alight worth $41,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of Alight by 5.7% in the 4th quarter. Northern Trust Corp now owns 4,107,761 shares of the company's stock valued at $28,426,000 after buying an additional 222,725 shares during the period. Starboard Value LP lifted its holdings in shares of 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 buying an additional 3,833,000 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Alight in the 1st quarter valued at about $428,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alight by 9.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,936,028 shares of the company's stock valued at $35,201,000 after buying an additional 506,666 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Alight by 3.8% in 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 period. Institutional investors and hedge funds own 96.74% of the company's stock.

Alight Price Performance

NYSE:ALIT traded up $0.03 during trading hours on Tuesday, hitting $3.84. 6,765,758 shares of the stock were exchanged, compared to its average volume of 9,865,464. Alight, Inc. has a 52-week low of $3.62 and a 52-week high of $8.93. The firm's fifty day moving average price is $5.05 and its 200 day moving average price is $5.50. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The company has a market cap of $2.07 billion, a P/E ratio of -1.74 and a beta of 1.00.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, hitting 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 company had revenue of $528.00 million during the quarter, compared to analyst estimates of $525.26 million. During the same period in the previous year, the business earned $0.05 EPS. Alight'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. As a group, equities research analysts anticipate that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, September 2nd. Alight's payout ratio is -7.24%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALIT shares. 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. 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. 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. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $9.07.

Alight 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.