Canoe Financial LP Sells 3,891 Shares of Willis Towers Watson Public Limited Company $WTW

Key Points

• Canoe Financial reduced its Willis Towers Watson stake by 27.6% in the second quarter, selling 3,891 shares and retaining 10,225 shares valued at approximately $2.67 million. Institutional investors collectively own 93.09% of WTW.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $363.50. Recent target changes ranged from Barclays’ reduction to $303 to Keefe, Bruyette & Woods’ increase to $394.
• WTW exceeded quarterly expectations, reporting adjusted earnings of $3.35 per share and revenue of $2.47 billion, up 9.1% year over year. The company also maintains a quarterly dividend of $0.96 per share, equivalent to a 1.1% annual yield.

Canoe Financial LP lowered its holdings in shares of Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 27.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,225 shares of the company's stock after selling 3,891 shares during the period. Canoe Financial LP's holdings in Willis Towers Watson Public were worth $2,673,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dodge & Cox boosted its holdings in shares of Willis Towers Watson Public by 90.7% during 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 in the last quarter. Norges Bank acquired a new stake in shares of Willis Towers Watson Public during the 4th quarter worth 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 4th quarter valued at $284,570,000. Bank of Montreal Can increased its stake in shares of Willis Towers Watson Public by 657.3% in the 4th quarter. Bank of Montreal Can now owns 941,637 shares of the company's stock valued at $309,422,000 after acquiring an additional 817,301 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Willis Towers Watson Public by 23.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,505,195 shares of the company's stock valued at $1,151,808,000 after acquiring an additional 664,202 shares during the period. 93.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WTW has been the subject of a number of research reports. Wall Street Zen upgraded shares of Willis Towers Watson Public from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Weiss Ratings lowered shares of Willis Towers Watson Public from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 15th. Citigroup reissued a "neutral" rating and set a $345.00 price objective (up from $300.00) on shares of Willis Towers Watson Public in a research report on Monday, August 3rd. Barclays reduced their target price on Willis Towers Watson Public from $322.00 to $303.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Willis Towers Watson Public from $381.00 to $394.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $363.50.

Willis Towers Watson Public Stock Performance

NASDAQ WTW opened at $340.29 on Thursday. The company has a market cap of $31.60 billion, a P/E ratio of 20.93, a PEG ratio of 0.98 and a beta of 0.42. The company has a fifty day simple moving average of $289.68 and a 200 day simple moving average of $287.49. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.74. Willis Towers Watson Public Limited Company has a 12-month low of $240.61 and a 12-month high of $352.79.

Willis Towers Watson Public (NASDAQ:WTW - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.23. Willis Towers Watson Public had a net margin of 15.49% and a return on equity of 22.19%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company posted $2.86 earnings per share. The business's revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that Willis Towers Watson Public Limited Company will post 19.77 earnings per share for the current fiscal year.

Willis Towers Watson Public Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Willis Towers Watson Public's dividend payout ratio is currently 23.62%.

Willis Towers Watson Public Profile

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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