Corebridge Financial Inc. Sells 1,043 Shares of Willis Towers Watson Public Limited Company $WTW

Key Points

• Corebridge Financial Inc. reduced its stake in Willis Towers Watson by 4.2%, now holding 23,612 shares worth approximately $7.98 million.
• Willis Towers Watson reported earnings of $2.86 per share for the last quarter, exceeding estimates, while revenue decreased slightly by 0.2% year-over-year.
• Institutional investors own 93.09% of Willis Towers Watson's stock, indicating strong backing from large investment entities.

Corebridge Financial Inc. lowered its position in shares of Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,612 shares of the company's stock after selling 1,043 shares during the period. Corebridge Financial Inc.'s holdings in Willis Towers Watson Public were worth $7,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WTW. Dynamic Advisor Solutions LLC boosted its holdings in Willis Towers Watson Public by 1.8% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,018 shares of the company's stock valued at $682,000 after purchasing an additional 35 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Willis Towers Watson Public by 2.8% during the 4th quarter. Vident Advisory LLC now owns 1,405 shares of the company's stock worth $440,000 after acquiring an additional 38 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Willis Towers Watson Public by 2.9% during the 1st quarter. Brighton Jones LLC now owns 1,408 shares of the company's stock worth $476,000 after acquiring an additional 40 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Willis Towers Watson Public by 6.2% during the 1st quarter. Mather Group LLC. now owns 718 shares of the company's stock worth $243,000 after acquiring an additional 42 shares in the last quarter. Finally, Forum Financial Management LP boosted its stake in shares of Willis Towers Watson Public by 3.8% during the 4th quarter. Forum Financial Management LP now owns 1,197 shares of the company's stock worth $375,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price target on Willis Towers Watson Public from $335.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Wells Fargo & Company cut their price objective on Willis Towers Watson Public from $387.00 to $369.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Barclays cut their price objective on Willis Towers Watson Public from $316.00 to $305.00 and set an "underweight" rating for the company in a research report on Monday, July 7th. Citigroup started coverage on Willis Towers Watson Public in a research report on Wednesday, August 13th. They set a "neutral" rating and a $351.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on Willis Towers Watson Public in a research report on Wednesday, August 13th. They set a "neutral" rating and a $355.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $362.92.

Insider Buying and Selling

In related news, CFO Andrew Jay Krasner sold 1,600 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $315.75, for a total value of $505,200.00. Following the completion of the transaction, the chief financial officer owned 11,982 shares of the company's stock, valued at approximately $3,783,316.50. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company's stock.

Willis Towers Watson Public Stock Down 0.0%

Shares of WTW stock traded down $0.05 during trading hours on Friday, hitting $326.79. 370,858 shares of the company were exchanged, compared to its average volume of 584,259. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.90 and a current ratio of 1.90. Willis Towers Watson Public Limited Company has a one year low of $283.29 and a one year high of $344.14. The business's 50-day simple moving average is $316.25 and its two-hundred day simple moving average is $317.24. The stock has a market capitalization of $31.88 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.60 and a beta of 0.71.

Willis Towers Watson Public (NASDAQ:WTW - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.21. Willis Towers Watson Public had a net margin of 1.40% and a return on equity of 21.60%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. Willis Towers Watson Public's quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts predict that Willis Towers Watson Public Limited Company will post 17.32 EPS for the current fiscal year.

Willis Towers Watson Public Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.1%. Willis Towers Watson Public's payout ratio is 252.05%.

Willis Towers Watson Public Company Profile

Willis Towers Watson Public Limited Company operates as an advisory, broking, and solutions company worldwide. It operates through two segments: Health, Wealth & Career and Risk & Broking. The company offers strategy and design consulting, plan management service and support, broking and administration services for health, wellbeing, and other group benefit program, including medical, dental, disability, life, voluntary benefits and other coverages; actuarial support, plan design, and administrative services for pension and retirement savings plans; retirement consulting services and solutions; and integrated solutions that consists of investment discretionary management, pension administration, core actuarial, and communication and change management assistance services.