Alight, Inc. $ALIT Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. lifted its holdings in Alight, Inc. (NYSE:ALIT) by 14.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,183,796 shares of the company’s stock after buying an additional 145,606 shares during the quarter. Prudential Financial Inc.’s holdings in Alight were worth $6,700,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Strs Ohio acquired a new position in shares of Alight during the first quarter valued at $25,000. CWM LLC increased its stake in shares of Alight by 364.8% in the first quarter. CWM LLC now owns 5,104 shares of the company’s stock valued at $30,000 after purchasing an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Alight by 82.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock valued at $31,000 after purchasing an additional 2,348 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Alight by 68.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock valued at $46,000 after buying an additional 3,300 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of Alight during the second quarter worth approximately $62,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ALIT shares. Wedbush lowered their target price on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. Needham & Company LLC cut their price objective on shares of Alight from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. DA Davidson reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Alight in a report on Tuesday. Finally, UBS Group lowered their target price on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.25.

Alight Trading Down 1.2%

Shares of Alight stock opened at $2.30 on Friday. The business has a fifty day simple moving average of $2.77 and a 200-day simple moving average of $4.16. Alight, Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $8.05. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -0.56 and a beta of 1.02. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.99.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $539.43 million. During the same quarter last year, the firm posted $0.09 earnings per share. Alight’s revenue was down 4.0% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. On average, equities analysts forecast that Alight, Inc. will post 0.54 EPS for the current fiscal year.

Alight Dividend Announcement

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

Insider Transactions at Alight

In other Alight news, Director Kausik Rajgopal purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were purchased at an average price of $2.24 per share, for a total transaction of $89,600.00. Following the completion of the transaction, the director owned 125,202 shares in the company, valued at $280,452.48. This represents a 46.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.93% of the company’s stock.

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.