Cidel Asset Management Inc. Lowers Stock Position in Willis Towers Watson Public Limited Company $WTW

Key Points

• Cidel Asset Management reduced its Willis Towers Watson stake by 42.1% in the second quarter, selling 42,366 shares and retaining 58,359 shares valued at approximately $15.3 million. Institutional investors collectively own 93.09% of WTW.
• Willis Towers Watson exceeded quarterly expectations, reporting $3.35 in earnings per share on $2.47 billion in revenue, with revenue rising 9.1% year over year.
• The company declared a quarterly dividend of $0.96, or $3.84 annually, while analysts maintain a “Moderate Buy” consensus with an average price target of $369.38.

Cidel Asset Management Inc. cut its holdings in shares of Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 42.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,359 shares of the company's stock after selling 42,366 shares during the period. Cidel Asset Management Inc. owned 0.06% of Willis Towers Watson Public worth $15,253,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Legal & General Group Plc boosted its position in Willis Towers Watson Public by 1.6% during the fourth quarter. Legal & General Group Plc now owns 690,210 shares of the company's stock valued at $226,803,000 after purchasing an additional 10,697 shares in the last quarter. Norges Bank purchased a new stake in Willis Towers Watson Public during the fourth quarter valued at approximately $511,151,000. PNC Financial Services Group Inc. grew its holdings in Willis Towers Watson Public by 45.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 20,225 shares of the company's stock worth $6,646,000 after purchasing an additional 6,340 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Willis Towers Watson Public by 945.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 57,641 shares of the company's stock worth $18,941,000 after purchasing an additional 52,125 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Willis Towers Watson Public by 6.1% during the 4th quarter. National Pension Service now owns 158,741 shares of the company's stock valued at $52,162,000 after purchasing an additional 9,112 shares during the last quarter. Institutional investors own 93.09% of the company's stock.

Willis Towers Watson Public Price Performance

NASDAQ:WTW opened at $325.34 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.74. Willis Towers Watson Public Limited Company has a 52 week low of $240.61 and a 52 week high of $352.79. The stock's 50-day moving average price is $319.12 and its 200-day moving average price is $291.27. The stock has a market capitalization of $30.21 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.41.

Willis Towers Watson Public (NASDAQ:WTW - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $3.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.12 by $0.23. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.42 billion. Willis Towers Watson Public had a return on equity of 22.19% and a net margin of 15.49%.Willis Towers Watson Public's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.86 earnings per share. As a group, equities analysts expect that Willis Towers Watson Public Limited Company will post 19.82 EPS for the current fiscal year.

Willis Towers Watson Public Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.96 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.84 annualized dividend and a dividend yield of 1.2%. Willis Towers Watson Public's dividend payout ratio (DPR) is 23.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WTW shares. Cantor Fitzgerald boosted their target price on Willis Towers Watson Public from $344.00 to $380.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price target on Willis Towers Watson Public from $381.00 to $394.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. TD Cowen upped their price objective on shares of Willis Towers Watson Public from $391.00 to $455.00 and gave the company a "buy" rating in a report on Thursday, August 20th. UBS Group boosted their target price on shares of Willis Towers Watson Public from $382.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Truist Financial upped their price target on shares of Willis Towers Watson Public from $320.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, July 31st. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $369.38.

Willis Towers Watson Public Company 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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