Vanguard Group Inc. Acquires 1,548,078 Shares of Alight, Inc. $ALIT

Key Points

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Vanguard Group Inc. grew its holdings in Alight, Inc. (NYSE:ALIT - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,429,297 shares of the company's stock after acquiring an additional 1,548,078 shares during the quarter. Vanguard Group Inc. owned 7.81% of Alight worth $251,606,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Starboard Value LP boosted its position in shares of Alight by 8.8% during the fourth quarter. Starboard Value LP now owns 47,228,000 shares of the company's stock worth $326,818,000 after buying an additional 3,833,000 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in Alight by 13.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 24,296,295 shares of the company's stock valued at $168,130,000 after purchasing an additional 2,901,108 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Alight by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 22,719,293 shares of the company's stock valued at $157,215,000 after purchasing an additional 1,153,963 shares during the last quarter. Janus Henderson Group PLC boosted its position in Alight by 1.3% during the fourth quarter. Janus Henderson Group PLC now owns 17,624,572 shares of the company's stock valued at $121,961,000 after purchasing an additional 229,466 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Alight by 18.9% during the fourth quarter. Ameriprise Financial Inc. now owns 12,671,831 shares of the company's stock valued at $87,686,000 after purchasing an additional 2,015,579 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Alight Stock Performance

NYSE:ALIT opened at $3.89 on Tuesday. The stock has a market cap of $2.10 billion, a P/E ratio of -1.76 and a beta of 1.00. The stock has a 50 day simple moving average of $5.23 and a 200 day simple moving average of $5.61. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. Alight, Inc. has a 1-year low of $3.62 and a 1-year high of $8.93.

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 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 for the quarter, compared to analyst estimates of $525.26 million. During the same quarter last year, the company earned $0.05 EPS. The company's revenue was down 1.9% on a year-over-year basis. Research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current 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%.

Analysts Set New Price Targets

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. 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Alight has an average rating of "Moderate Buy" and an average price target of $8.94.

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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