Willis Towers Watson Public Limited Company $WTW Shares Sold by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management cut its Willis Towers Watson Public stake by 22.6% in Q1, selling 29,465 shares and leaving it with 100,725 shares valued at about $29.3 million.
• WTW posted solid quarterly results, reporting EPS of $3.72, beating estimates, while revenue rose 8.5% year over year to $2.41 billion; analysts still expect full-year EPS of 19.52.
• The company declared a quarterly dividend of $0.96 per share payable July 15, and analyst sentiment remains generally positive with a Moderate Buy consensus and a $350 average price target.

Cidel Asset Management Inc. lessened its holdings in shares of Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 22.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,725 shares of the company's stock after selling 29,465 shares during the period. Willis Towers Watson Public makes up approximately 1.6% of Cidel Asset Management Inc.'s portfolio, making the stock its 18th biggest holding. Cidel Asset Management Inc. owned 0.11% of Willis Towers Watson Public worth $29,281,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WTW. Bartlett & CO. Wealth Management LLC boosted its position in shares of Willis Towers Watson Public by 375.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 76 shares of the company's stock worth $25,000 after purchasing an additional 60 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of Willis Towers Watson Public in the 4th quarter valued at about $29,000. Larson Financial Group LLC lifted its stake in shares of Willis Towers Watson Public by 72.5% in the fourth quarter. Larson Financial Group LLC now owns 88 shares of the company's stock valued at $29,000 after purchasing an additional 37 shares during the period. Fideuram Asset Management Ireland dac acquired a new stake in shares of Willis Towers Watson Public in the fourth quarter valued at about $28,000. Finally, Raiffeisen Bank International AG purchased a new stake in Willis Towers Watson Public during the third quarter worth about $31,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Willis Towers Watson Public Price Performance

Shares of NASDAQ WTW opened at $257.55 on Wednesday. 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 company's 50-day moving average price is $265.21 and its 200 day moving average price is $294.30. Willis Towers Watson Public Limited Company has a 52 week low of $240.61 and a 52 week high of $352.79. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.81 and a beta of 0.43.

Willis Towers Watson Public (NASDAQ:WTW - Get Free Report) last announced its earnings results 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 analysts' expectations of $2.41 billion. During the same quarter in the previous year, the business posted $3.13 earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Willis Towers Watson Public Limited Company will post 19.52 earnings per share for the current fiscal year.

Willis Towers Watson Public Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WTW shares. Bank of America lowered their target price on shares of Willis Towers Watson Public from $354.00 to $347.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company reduced their price target on shares of Willis Towers Watson Public from $379.00 to $351.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Cantor Fitzgerald decreased their price target on 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. BMO Capital Markets upgraded 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, Truist Financial raised Willis Towers Watson Public to a "strong-buy" rating in a research note on Thursday, April 30th. Two equities 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 $350.00.

Insider Activity

In related news, insider Lucy Clarke bought 1,896 shares of Willis Towers Watson Public stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $263.37 per share, with a total value of $499,349.52. Following the purchase, the insider owned 22,717 shares in the company, valued at $5,982,976.29. This represents a 9.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

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.

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