Nuveen LLC Purchases New Holdings in Alight, Inc. $ALIT

Nuveen LLC purchased a new stake in Alight, Inc. (NYSE:ALIT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,974,227 shares of the company’s stock, valued at approximately $11,707,000. Nuveen LLC owned about 0.36% of Alight as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALIT. Wells Fargo & Company MN boosted its holdings in Alight by 7.3% in the fourth quarter. Wells Fargo & Company MN now owns 294,377 shares of the company’s stock valued at $2,037,000 after purchasing an additional 19,944 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Alight by 7.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company’s stock worth $309,000 after buying an additional 3,273 shares during the last quarter. Invesco Ltd. lifted its holdings in Alight by 2.0% during the 4th quarter. Invesco Ltd. now owns 351,375 shares of the company’s stock worth $2,432,000 after buying an additional 6,964 shares during the last quarter. Raymond James Financial Inc. bought a new position in Alight during the 4th quarter worth approximately $3,783,000. Finally, Canada Pension Plan Investment Board bought a new position in Alight during the 4th quarter worth approximately $517,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Alight Stock Up 2.5%

Shares of Alight stock opened at $3.8550 on Friday. 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 business’s 50 day simple moving average is $5.11 and its 200-day simple moving average is $5.55. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -1.74 and a beta of 1.00. Alight, Inc. has a twelve month low of $3.62 and a twelve month high of $8.93.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $525.26 million. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. Equities research analysts forecast that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 2nd. Alight’s dividend payout ratio is presently -7.24%.

Analyst Ratings Changes

A number of research firms have commented on ALIT. UBS Group reduced their target price on Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Wedbush reduced their target price on Alight from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Finally, Needham & Company LLC reduced their target price on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $9.07.

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.