Raymond James Financial Inc. Sells 5,458 Shares of Alight, Inc. $ALIT

Raymond James Financial Inc. decreased its stake in shares of Alight, Inc. (NYSE:ALIT) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,256 shares of the company’s stock after selling 5,458 shares during the quarter. Raymond James Financial Inc. owned approximately 0.10% of Alight worth $3,210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cresset Asset Management LLC lifted its holdings in Alight by 15.1% during the 1st quarter. Cresset Asset Management LLC now owns 40,228 shares of the company’s stock valued at $239,000 after buying an additional 5,272 shares in the last quarter. American Century Companies Inc. lifted its holdings in Alight by 50.4% during the 1st quarter. American Century Companies Inc. now owns 6,920,646 shares of the company’s stock valued at $41,039,000 after buying an additional 2,319,685 shares in the last quarter. Tejara Capital Ltd bought a new stake in Alight during the 1st quarter valued at about $505,000. Dimensional Fund Advisors LP lifted its holdings in Alight by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 24,649,733 shares of the company’s stock valued at $146,173,000 after buying an additional 1,930,440 shares in the last quarter. Finally, Littlejohn & Co. LLC lifted its holdings in Alight by 1.7% during the 1st quarter. Littlejohn & Co. LLC now owns 1,475,859 shares of the company’s stock valued at $8,752,000 after buying an additional 25,000 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Alight Stock Performance

ALIT stock opened at $3.77 on Monday. 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 business has a 50-day moving average price of $4.80 and a 200 day moving average price of $5.34. The company has a market capitalization of $2.03 billion, a P/E ratio of -1.70 and a beta of 1.02. Alight, Inc. has a 1-year low of $3.62 and a 1-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, hitting analysts’ consensus estimates of $0.10. The business had revenue of $528.00 million during the quarter, compared to the consensus estimate of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, equities research analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC decreased their price objective on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group decreased their price objective on Alight from $10.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Wedbush decreased their price objective on Alight from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock 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.