Willis Towers Watson Public Limited Company $WTW Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its WTW stake by 12.0%, selling 64,643 shares and retaining 474,881 shares valued at approximately $138.0 million. Institutional investors and hedge funds collectively own 93.09% of the company.
• Willis Towers Watson reported quarterly EPS of $3.35, exceeding estimates of $3.12, while revenue reached $2.47 billion and increased 9.1% year over year.
• The company pays a quarterly dividend of $0.96, equivalent to an annualized $3.84 payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $363.50.

Bank of America Corp DE reduced its holdings in shares of Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 474,881 shares of the company's stock after selling 64,643 shares during the quarter. Bank of America Corp DE owned 0.50% of Willis Towers Watson Public worth $138,048,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dodge & Cox grew its holdings in 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 acquiring an additional 3,293,334 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Willis Towers Watson Public by 23.4% in 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 purchasing an additional 664,202 shares in the last quarter. Invesco Ltd. lifted its position in shares of Willis Towers Watson Public by 2.7% during the fourth quarter. Invesco Ltd. now owns 2,212,870 shares of the company's stock worth $727,149,000 after purchasing an additional 57,162 shares during the last quarter. Norges Bank bought a new position in shares of Willis Towers Watson Public during the fourth quarter worth about $511,151,000. Finally, Baupost Group LLC MA grew its stake in Willis Towers Watson Public by 24.7% in the fourth quarter. Baupost Group LLC MA now owns 1,357,601 shares of the company's stock worth $446,108,000 after purchasing an additional 268,536 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Willis Towers Watson Public Trading Up 0.6%

Shares of NASDAQ:WTW opened at $340.01 on Friday. The company has a market cap of $31.58 billion, a PE ratio of 20.91, a P/E/G ratio of 0.97 and a beta of 0.42. The company's 50-day moving average price is $282.55 and its 200 day moving average price is $286.94. Willis Towers Watson Public Limited Company has a fifty-two week low of $240.61 and a fifty-two week high of $352.79. 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 (NASDAQ:WTW - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.12 by $0.23. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.42 billion. Willis Towers Watson Public had a net margin of 15.49% and a return on equity of 22.19%. Willis Towers Watson Public's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.86 EPS. Sell-side analysts anticipate that Willis Towers Watson Public Limited Company will post 19.8 earnings per share for the current year.

Willis Towers Watson Public Announces Dividend

The firm also recently disclosed 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 yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Willis Towers Watson Public's dividend payout ratio is 23.62%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BMO Capital Markets raised Willis Towers Watson Public from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $347.00 to $300.00 in a report on Friday, May 1st. Barclays decreased 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 report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price target on Willis Towers Watson Public from $381.00 to $394.00 and gave the company an "outperform" rating in a report on Tuesday. Truist Financial upped their price target on Willis Towers Watson Public from $320.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Mizuho raised their price objective on Willis Towers Watson Public from $338.00 to $361.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $363.50.

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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