Geode Capital Management LLC Sells 32,375 Shares of Willis Towers Watson Public Limited Company $WTW

Key Points

• Geode Capital Management reduced its Willis Towers Watson (NASDAQ: WTW) stake by 1.3% in the fourth quarter, selling 32,375 shares and ending with 2.55 million shares valued at about $833.7 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 93.09% of the company’s stock, while several major firms recently increased their positions.
• Willis Towers Watson reported better-than-expected quarterly earnings of $3.72 per share and revenue of $2.41 billion, and it also announced a quarterly dividend of $0.96 per share payable on July 15.

Geode Capital Management LLC cut its position in Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,546,859 shares of the company's stock after selling 32,375 shares during the quarter. Geode Capital Management LLC owned about 2.66% of Willis Towers Watson Public worth $833,671,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WTW. Dodge & Cox increased its stake in shares of Willis Towers Watson Public by 184.1% in the third quarter. Dodge & Cox now owns 3,632,191 shares of the company's stock worth $1,254,740,000 after purchasing an additional 2,353,768 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Willis Towers Watson Public by 80.2% in the second quarter. Alliancebernstein L.P. now owns 1,038,275 shares of the company's stock worth $318,231,000 after purchasing an additional 462,249 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Willis Towers Watson Public by 56.8% in the second quarter. Bank of America Corp DE now owns 745,074 shares of the company's stock worth $228,365,000 after purchasing an additional 269,794 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Willis Towers Watson Public by 546.4% in the third quarter. Tidal Investments LLC now owns 255,679 shares of the company's stock worth $88,324,000 after purchasing an additional 216,124 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in shares of Willis Towers Watson Public by 6,645.5% in the third quarter. Balyasny Asset Management L.P. now owns 213,089 shares of the company's stock worth $73,612,000 after purchasing an additional 209,930 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company's stock.

Wall Street Analyst Weigh In

WTW has been the subject of a number of analyst reports. Piper Sandler cut their price target on Willis Towers Watson Public from $341.00 to $283.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Mizuho cut their price target on Willis Towers Watson Public from $353.00 to $338.00 and set an "outperform" rating for the company in a report on Tuesday, May 5th. Wall Street Zen raised Willis Towers Watson Public from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. BMO Capital Markets raised shares of Willis Towers Watson Public from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $347.00 to $300.00 in a report on Friday, May 1st. Finally, Cantor Fitzgerald lowered their price target on shares of Willis Towers Watson Public from $363.00 to $354.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $351.73.

Willis Towers Watson Public Stock Down 0.9%

Shares of NASDAQ WTW opened at $249.67 on Friday. Willis Towers Watson Public Limited Company has a 12 month low of $240.61 and a 12 month high of $352.79. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.81 and a beta of 0.45. The business has a 50-day moving average of $275.46 and a 200-day moving average of $301.74.

Willis Towers Watson Public (NASDAQ:WTW - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $3.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.65 by $0.07. Willis Towers Watson Public had a net margin of 16.84% and a return on equity of 21.52%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $3.13 EPS. The firm's revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Willis Towers Watson Public Limited Company will post 19.53 earnings per share for the current fiscal year.

Willis Towers Watson Public Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Willis Towers Watson Public's dividend payout ratio (DPR) is currently 22.39%.

Insider Buying and Selling at Willis Towers Watson Public

In other news, insider Lucy Clarke acquired 1,896 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average cost of $263.37 per share, with a total value of $499,349.52. Following the acquisition, the insider owned 22,717 shares in the company, valued at approximately $5,982,976.29. This represents a 9.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.40% of the company's stock.

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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