Norges Bank Buys New Position in Willis Towers Watson Public Limited Company $WTW

Key Points

• Norges Bank disclosed a new position in Willis Towers Watson Public, buying 1.56 million shares worth about $511.2 million and ending with roughly 1.62% ownership.
• Analysts were mixed on WTW: several trimmed price targets, but the stock still carries a Moderate Buy consensus with a target price of $351.73.
• The company beat quarterly EPS estimates, reported 8.5% revenue growth, and announced a quarterly dividend of $0.96 per share to be paid July 15.

Norges Bank bought a new stake in shares of Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,555,541 shares of the company's stock, valued at approximately $511,151,000. Norges Bank owned approximately 1.62% of Willis Towers Watson Public at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its position in Willis Towers Watson Public by 72.5% during the 4th quarter. Larson Financial Group LLC now owns 88 shares of the company's stock valued at $29,000 after buying an additional 37 shares in the last quarter. 44 Wealth Management LLC increased its position in Willis Towers Watson Public by 1.3% during the 4th quarter. 44 Wealth Management LLC now owns 2,939 shares of the company's stock valued at $966,000 after buying an additional 39 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Willis Towers Watson Public by 38.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 140 shares of the company's stock valued at $47,000 after purchasing an additional 39 shares in the last quarter. Howard Capital Management Inc. increased its stake in Willis Towers Watson Public by 5.7% during the 4th quarter. Howard Capital Management Inc. now owns 744 shares of the company's stock valued at $244,000 after purchasing an additional 40 shares in the last quarter. Finally, Avantra Family Wealth Inc. increased its stake in Willis Towers Watson Public by 2.9% during the 4th quarter. Avantra Family Wealth Inc. now owns 1,484 shares of the company's stock valued at $488,000 after purchasing an additional 42 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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. Morgan Stanley cut their price target on shares of Willis Towers Watson Public from $330.00 to $320.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. Cantor Fitzgerald cut 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 research note on Thursday, April 9th. Barclays cut their price objective on Willis Towers Watson Public from $341.00 to $322.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Finally, Mizuho cut their price objective on Willis Towers Watson Public from $353.00 to $338.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $351.73.

Insider Buying and Selling

In related news, insider Lucy Clarke bought 1,896 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $263.37 per share, with a total value of $499,349.52. Following the completion of the acquisition, the insider directly owned 22,717 shares in the company, valued at approximately $5,982,976.29. The trade was a 9.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is currently owned by company insiders.

Willis Towers Watson Public Price Performance

NASDAQ:WTW opened at $249.67 on Monday. The firm has a market capitalization of $23.58 billion, a P/E ratio of 14.56, a PEG ratio of 0.80 and a beta of 0.43. Willis Towers Watson Public Limited Company has a 1-year low of $240.61 and a 1-year high of $352.79. The company's fifty day moving average price is $275.46 and its 200-day moving average price is $301.60. 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 released its quarterly earnings data on Friday, May 1st. The company reported $3.72 earnings per share for the quarter, topping analysts' consensus estimates of $3.65 by $0.07. The firm 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 business's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.13 earnings per share. As a group, equities research analysts anticipate that Willis Towers Watson Public Limited Company will post 19.53 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. Investors of record on Tuesday, June 30th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a 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 22.39%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.