Bank of New York Mellon Corp Reduces Position in Alight, Inc. $ALIT

Bank of New York Mellon Corp lowered its position in Alight, Inc. (NYSE:ALIT) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,203,946 shares of the company’s stock after selling 503,601 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.78% of Alight worth $23,794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ALIT. Palogic Value Management L.P. increased its holdings in shares of Alight by 4.0% in the 2nd quarter. Palogic Value Management L.P. now owns 489,000 shares of the company’s stock valued at $2,768,000 after acquiring an additional 19,000 shares during the period. Atria Investments Inc increased its stake in Alight by 20.5% in the second quarter. Atria Investments Inc now owns 50,223 shares of the company’s stock valued at $284,000 after purchasing an additional 8,551 shares during the period. Teacher Retirement System of Texas increased its stake in Alight by 47.3% in the second quarter. Teacher Retirement System of Texas now owns 106,297 shares of the company’s stock valued at $602,000 after purchasing an additional 34,136 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Alight by 66.7% in the second quarter. Envestnet Asset Management Inc. now owns 87,715 shares of the company’s stock valued at $496,000 after buying an additional 35,086 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Alight by 32.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 44,844 shares of the company’s stock worth $254,000 after buying an additional 10,900 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALIT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Alight in a research report on Wednesday, October 8th. Needham & Company LLC lowered their target price on Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Wedbush dropped their target price on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, UBS Group decreased their price target on Alight from $6.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Alight Stock Up 0.7%

ALIT opened at $2.29 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21. Alight, Inc. has a 12 month low of $2.19 and a 12 month high of $8.21. The stock has a market capitalization of $1.22 billion, a P/E ratio of -0.56 and a beta of 1.02. The business has a 50 day simple moving average of $3.06 and a 200-day simple moving average of $4.39.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Alight had a positive return on equity of 7.89% and a negative net margin of 94.23%.The business had revenue of $533.00 million for the quarter, compared to analyst estimates of $539.43 million. During the same period in the prior year, the company earned $0.09 EPS. The company’s revenue was down 4.0% on a year-over-year basis. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, equities analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Monday, December 1st. Alight’s dividend payout ratio (DPR) is currently -3.91%.

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.