Pennsylvania Trust Co lessened its holdings in shares of Willis Towers Watson PLC (NASDAQ:WLTW) by 45.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,154 shares of the financial services provider’s stock after selling 955 shares during the period. Pennsylvania Trust Co’s holdings in Willis Towers Watson were worth $223,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its stake in Willis Towers Watson by 7.0% in the 2nd quarter. BlackRock Inc. now owns 11,548,315 shares of the financial services provider’s stock worth $2,211,963,000 after purchasing an additional 760,522 shares in the last quarter. Longview Partners Guernsey LTD boosted its stake in Willis Towers Watson by 12.2% in the 2nd quarter. Longview Partners Guernsey LTD now owns 6,702,733 shares of the financial services provider’s stock worth $1,283,841,000 after purchasing an additional 729,906 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Willis Towers Watson by 2,810.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 750,742 shares of the financial services provider’s stock worth $143,797,000 after purchasing an additional 724,950 shares in the last quarter. Thoroughbred Financial Services LLC boosted its stake in Willis Towers Watson by 19,054.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 603,734 shares of the financial services provider’s stock worth $60,373,000 after purchasing an additional 600,582 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Willis Towers Watson by 3.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,189,692 shares of the financial services provider’s stock worth $3,100,974,000 after purchasing an additional 556,935 shares in the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.
In other news, insider Nicolas Aubert sold 7,592 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $195.00, for a total transaction of $1,480,440.00. Following the completion of the sale, the insider now owns 5,875 shares of the company’s stock, valued at approximately $1,145,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on WLTW. Morgan Stanley dropped their price target on shares of Willis Towers Watson from $215.00 to $209.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Barclays set a $235.00 price target on shares of Willis Towers Watson and gave the stock a “buy” rating in a research note on Monday, August 12th. SunTrust Banks upped their price target on shares of Willis Towers Watson from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. They noted that the move was a valuation call. Wells Fargo & Co restated a “buy” rating and set a $220.00 target price on shares of Willis Towers Watson in a research note on Wednesday, July 31st. Finally, ValuEngine cut shares of Willis Towers Watson from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Willis Towers Watson currently has an average rating of “Buy” and an average price target of $201.33.
WLTW opened at $188.10 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market capitalization of $24.02 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.61 and a beta of 0.81. The company’s 50-day simple moving average is $193.28 and its two-hundred day simple moving average is $187.79. Willis Towers Watson PLC has a 52-week low of $134.50 and a 52-week high of $200.93.
Willis Towers Watson (NASDAQ:WLTW) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.02. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Willis Towers Watson had a net margin of 9.86% and a return on equity of 13.00%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 EPS. Research analysts forecast that Willis Towers Watson PLC will post 10.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, September 27th. Willis Towers Watson’s dividend payout ratio is currently 26.72%.
About Willis Towers Watson
Willis Towers Watson Public Limited Company operates as an advisory, broking, and solutions company worldwide. The company's Human Capital and Benefits segment offers actuarial support, plan design, and administrative services for traditional pension and retirement savings plans; plan management consulting, broking, and administration services for health and group benefit programs; and benefits outsourcing services.
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