Canoe Financial LP Sells 246,012 Shares of Willis Towers Watson Public Limited Company $WTW

Key Points

• Canoe Financial LP sharply reduced its Willis Towers Watson Public stake, selling 246,012 shares in the first quarter and leaving it with 14,116 shares worth about $4.1 million.
• Willis Towers Watson reported better-than-expected quarterly earnings of $3.72 per share, with revenue of $2.41 billion and revenue up 8.5% year over year.
• The company announced a quarterly dividend of $0.96 per share, equivalent to $3.84 annually and a 1.4% yield, while analysts currently rate the stock a Moderate Buy with a $350 consensus price target.

Canoe Financial LP cut its holdings in Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 94.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,116 shares of the company's stock after selling 246,012 shares during the period. Canoe Financial LP's holdings in Willis Towers Watson Public were worth $4,104,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dodge & Cox increased its position in Willis Towers Watson Public by 90.7% in the 4th quarter. Dodge & Cox now owns 6,925,525 shares of the company's stock worth $2,275,728,000 after buying an additional 3,293,334 shares during the period. Norges Bank bought a new stake in shares of Willis Towers Watson Public in the fourth quarter valued at approximately $511,151,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Willis Towers Watson Public in the fourth quarter valued at approximately $284,570,000. Bank of Montreal Can grew its stake in shares of Willis Towers Watson Public by 657.3% in the fourth quarter. Bank of Montreal Can now owns 941,637 shares of the company's stock worth $309,422,000 after acquiring an additional 817,301 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in Willis Towers Watson Public by 23.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,505,195 shares of the company's stock worth $1,151,808,000 after acquiring an additional 664,202 shares during the period. Institutional investors own 93.09% of the company's stock.

Willis Towers Watson Public Stock Performance

Shares of Willis Towers Watson Public stock opened at $265.43 on Monday. The company's fifty day moving average price is $263.53 and its two-hundred day moving average price is $293.05. The firm has a market capitalization of $25.07 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 0.85 and a beta of 0.43. Willis Towers Watson Public Limited Company has a 52-week low of $240.61 and a 52-week high of $352.79. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.92 and a quick ratio of 2.92.

Willis Towers Watson Public (NASDAQ:WTW - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.07. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.41 billion. Willis Towers Watson Public had a net margin of 16.84% and a return on equity of 21.52%. The firm's revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 EPS. On average, analysts expect that Willis Towers Watson Public Limited Company will post 19.52 EPS for the current year.

Willis Towers Watson Public Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 1.4%. Willis Towers Watson Public's dividend payout ratio is presently 22.39%.

Insider Activity

In related news, insider Lucy Clarke bought 1,896 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $263.37 per share, for a total transaction of $499,349.52. Following the transaction, the insider directly owned 22,717 shares of the company's stock, valued at $5,982,976.29. This represents a 9.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WTW shares. BMO Capital Markets upgraded shares of Willis Towers Watson Public from a "market perform" rating to an "outperform" rating and cut their target price for the company from $347.00 to $300.00 in a research note on Friday, May 1st. Keefe, Bruyette & Woods dropped their price objective on shares of Willis Towers Watson Public from $384.00 to $380.00 and set an "outperform" rating on the stock in a report on Tuesday, May 12th. Truist Financial raised shares of Willis Towers Watson Public to a "strong-buy" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of Willis Towers Watson Public from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Barclays decreased their target price on Willis Towers Watson Public from $341.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $350.00.

About Willis Towers Watson Public

Willis Towers Watson Public NASDAQ: WTW is a global advisory, broking and solutions company that helps organizations manage risk, optimize benefits and cultivate talent. The firm combines insurance brokerage and risk management capabilities with human capital and benefits consulting, actuarial and analytics services, and technology-enabled solutions. Willis Towers Watson serves a broad client base that includes multinational and mid-sized corporations, public sector organizations, insurers and investment managers.

The company's core activities encompass commercial and reinsurance brokerage, risk transfer and risk-financing advice, and claims advocacy, alongside employee benefits and retirement consulting.

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