1,974,227 Shares in Alight, Inc. $ALIT Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Alight, Inc. by purchasing 1,974,227 shares, valued at approximately $11.7 million, representing about 0.36% of the company's stock.
• Alight's stock increased by 2.5% recently, with current trading at $3.8550, while the company reported a revenue decline of 1.9% year-over-year.
• The company declared a quarterly dividend of $0.04 per share, with an annualized yield of 4.2%, to be paid on September 15th.

Nuveen LLC purchased a new position in Alight, Inc. (NYSE:ALIT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,974,227 shares of the company's stock, valued at approximately $11,707,000. Nuveen LLC owned approximately 0.36% of Alight at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC increased its holdings in shares of Alight by 364.8% in the first quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after acquiring an additional 4,006 shares in the last quarter. GAMMA Investing LLC boosted its position 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 buying an additional 7,653 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Alight by 40.8% during the fourth 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 period. FNY Investment Advisers LLC acquired a new position in shares of Alight during the first quarter worth about $52,000. Finally, Sandia Investment Management LP acquired a new position in shares of Alight during the fourth quarter worth about $69,000. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALIT has been the subject of several recent research reports. Wedbush reduced their price target on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. UBS Group cut their price objective on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Needham & Company LLC cut their price objective on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $9.07.

Alight Price Performance

Alight stock traded up $0.06 during mid-day trading on Wednesday, reaching $3.90. 3,735,716 shares of the company were exchanged, compared to its average volume of 8,018,477. The company has a fifty day simple moving average of $5.05 and a 200-day simple moving average of $5.50. Alight, Inc. has a 12 month low of $3.62 and a 12 month high of $8.93. 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 $2.10 billion, a PE ratio of -1.76 and a beta of 1.00.

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 the consensus estimate of $0.10. The company had revenue of $528.00 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. 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. As a group, equities research analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The firm also recently disclosed 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Alight's payout ratio is currently -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.