Northern Trust Corp Cuts Holdings in Alight, Inc. $ALIT

Northern Trust Corp trimmed its holdings in shares of Alight, Inc. (NYSE:ALIT) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,985,438 shares of the company’s stock after selling 122,323 shares during the period. Northern Trust Corp owned about 0.73% of Alight worth $23,634,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Starboard Value LP raised its stake in shares of 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 buying an additional 3,833,000 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Alight in the 1st quarter worth approximately $428,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Alight by 9.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,936,028 shares of the company’s stock worth $35,201,000 after acquiring an additional 506,666 shares during the period. Vanguard Group Inc. grew its holdings in shares of Alight by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 42,429,297 shares of the company’s stock worth $251,606,000 after acquiring an additional 1,548,078 shares during the period. Finally, Sculptor Capital LP acquired a new stake in shares of Alight in the 4th quarter worth approximately $1,730,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ALIT. UBS Group lowered their price target on Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Wedbush lowered their price target 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 lowered their price target on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $8.75.

Alight Price Performance

Shares of NYSE:ALIT opened at $3.88 on Monday. The business’s fifty day moving average price is $4.97 and its two-hundred day moving average price is $5.44. The stock has a market cap of $2.09 billion, a PE ratio of -1.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. Alight, Inc. has a one year low of $3.62 and a one year high of $8.93.

Alight (NYSE:ALIT) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The firm 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%.Alight’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, September 2nd. Alight’s dividend payout ratio is -7.24%.

Alight 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.