Northern Trust Corp Sells 122,323 Shares of Alight, Inc. $ALIT

Key Points

• Northern Trust Corp reduced its holdings in Alight, Inc. by 3.0%, owning approximately 3.98 million shares valued at $23.63 million as of the latest reporting period.
• Research firms have lowered price targets for Alight, with UBS Group and Wedbush setting targets at $6.50 and $7.00 respectively, while Needham & Company lowered theirs to $6.00.
• Alight recently announced a quarterly dividend of $0.04 per share, yielding approximately 4.1%, with the dividend payment set for September 15th, 2023.

Northern Trust Corp cut its stake in Alight, Inc. (NYSE:ALIT - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,985,438 shares of the company's stock after selling 122,323 shares during the quarter. Northern Trust Corp owned approximately 0.73% of Alight worth $23,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC raised its holdings in Alight by 364.8% in the 1st quarter. CWM LLC now owns 5,104 shares of the company's stock valued at $30,000 after acquiring an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock valued at $31,000 after purchasing an additional 2,348 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Alight by 5,505.8% during the first quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after purchasing an additional 7,653 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in 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 purchasing an additional 2,059 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Alight during the 1st quarter worth approximately $52,000. Institutional investors own 96.74% of the company's stock.

Alight Price Performance

ALIT traded down $0.02 on Wednesday, hitting $3.92. 7,552,066 shares of the stock were exchanged, compared to its average volume of 8,088,860. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -1.77 and a beta of 1.01. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.16 and a quick ratio of 1.16. Alight, Inc. has a 12 month low of $3.62 and a 12 month high of $8.93. The business has a 50-day moving average of $4.90 and a two-hundred day moving average of $5.41.

Alight (NYSE:ALIT - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The firm had revenue of $528.00 million for the quarter, compared to analyst estimates of $525.26 million. During the same period last year, the firm earned $0.05 EPS. The business's quarterly revenue was down 1.9% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Sell-side analysts forecast 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 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 is Tuesday, September 2nd. This represents a $0.16 annualized dividend and a dividend yield of 4.1%. Alight's dividend payout ratio (DPR) is presently -7.24%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALIT. Needham & Company LLC lowered their price objective on Alight from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wedbush decreased their price target on shares of Alight from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, UBS Group dropped their price objective on shares of Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $8.75.

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.