Neuberger Berman Group LLC Acquires 1,092,567 Shares of Alight, Inc. (NYSE:ALIT)

Key Points

• Neuberger Berman Group LLC increased its stake in Alight, Inc. by 22.3%, acquiring over 1 million shares, bringing its total ownership to approximately 5.98 million shares worth about $35.5 million.
• Alight recently announced a quarterly dividend of $0.04 per share, with an annualized yield of 4.1%; the ex-dividend date is set for September 2nd.
• Analysts have lowered their price targets for Alight, now averaging around $6.94, with a consensus rating of "Moderate Buy" from seven analysts.

Neuberger Berman Group LLC grew its stake in shares of Alight, Inc. (NYSE:ALIT - Free Report) by 22.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,985,157 shares of the company's stock after purchasing an additional 1,092,567 shares during the period. Neuberger Berman Group LLC owned about 1.10% of Alight worth $35,509,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALIT. Starboard Value LP increased its holdings 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 in the last quarter. J. Goldman & Co LP boosted its position in Alight by 105.3% in the fourth quarter. J. Goldman & Co LP now owns 5,774,590 shares of the company's stock worth $39,960,000 after purchasing an additional 2,961,443 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its position in Alight by 13.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock worth $168,130,000 after purchasing an additional 2,901,108 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new position in Alight in the fourth quarter worth $19,581,000. Finally, Ameriprise Financial Inc. boosted its position in Alight by 18.9% in the fourth 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. 96.74% of the stock is owned by institutional investors.

Alight Stock Performance

Shares of Alight stock traded down $0.01 during trading hours on Friday, reaching $3.65. The company had a trading volume of 10,465,485 shares, compared to its average volume of 8,722,627. Alight, Inc. has a one year low of $3.62 and a one year high of $8.93. The business has a fifty day simple moving average of $5.26 and a 200 day simple moving average of $5.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $1.97 billion, a PE ratio of -1.65 and a beta of 1.00.

Alight (NYSE:ALIT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%. The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $525.26 million. During the same period last year, the company earned $0.05 earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 2nd. Alight's dividend payout ratio (DPR) is -7.24%.

Insider Activity

In other Alight news, Director David D. Guilmette acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average price of $5.69 per share, for a total transaction of $284,500.00. Following the completion of the transaction, the director owned 600,750 shares of the company's stock, valued at approximately $3,418,267.50. This represents a 9.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 55,216 shares of company stock valued at $307,636 in the last quarter. Company insiders own 1.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wedbush cut their price objective on Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC reduced 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, UBS Group reduced 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.94.

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.