Nuveen LLC Invests $11.71 Million in Alight, Inc. $ALIT

Nuveen LLC bought a new stake in Alight, Inc. (NYSE:ALIT) during the 1st quarter, HoldingsChannel reports. The fund bought 1,974,227 shares of the company’s stock, valued at approximately $11,707,000.

Several other large investors have also recently added to or reduced their stakes in ALIT. Wells Fargo & Company MN increased its position in Alight by 7.3% in the 4th quarter. Wells Fargo & Company MN now owns 294,377 shares of the company’s stock valued at $2,037,000 after acquiring an additional 19,944 shares during the period. Envestnet Asset Management Inc. increased its position in Alight by 7.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 44,656 shares of the company’s stock valued at $309,000 after acquiring an additional 3,273 shares during the period. Invesco Ltd. increased its position in Alight by 2.0% in the 4th quarter. Invesco Ltd. now owns 351,375 shares of the company’s stock valued at $2,432,000 after acquiring an additional 6,964 shares during the period. Raymond James Financial Inc. acquired a new stake in Alight in the 4th quarter valued at approximately $3,783,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Alight in the 4th quarter valued at approximately $517,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALIT has been the topic of several analyst reports. UBS Group lowered their target price on Alight from $10.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Wedbush lowered their target price on Alight from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, 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 report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $9.07.

Alight Trading Up 2.5%

Shares of ALIT stock opened at $3.8550 on Friday. The stock has a 50-day simple moving average of $5.11 and a 200 day simple moving average of $5.55. The stock has a market capitalization of $2.08 billion, a P/E ratio of -1.74 and a beta of 1.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. Alight, Inc. has a fifty-two week low of $3.62 and a fifty-two week high of $8.93.

Alight (NYSE:ALIT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $525.26 million. Alight had a negative net margin of 50.37% and a positive return on equity of 6.26%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. On average, sell-side analysts expect that Alight, Inc. will post 0.54 earnings per share for the current fiscal year.

Alight Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, September 2nd. This represents a $0.16 annualized dividend and a dividend yield of 4.2%. Alight’s payout ratio is currently -7.24%.

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.