State of Michigan Retirement System lifted its stake in shares of Willis Towers Watson PLC (NASDAQ:WLTW) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,911 shares of the financial services provider’s stock after buying an additional 3,433 shares during the quarter. State of Michigan Retirement System’s holdings in Willis Towers Watson were worth $6,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Willis Towers Watson by 3.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,405 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 49 shares during the period. Macquarie Group Ltd. grew its stake in Willis Towers Watson by 3,020.5% in the fourth quarter. Macquarie Group Ltd. now owns 53,048 shares of the financial services provider’s stock worth $10,712,000 after purchasing an additional 51,348 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Willis Towers Watson by 9.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,050 shares of the financial services provider’s stock worth $1,020,000 after purchasing an additional 425 shares in the last quarter. Franklin Resources Inc. lifted its position in Willis Towers Watson by 7.6% during the fourth quarter. Franklin Resources Inc. now owns 2,500 shares of the financial services provider’s stock valued at $505,000 after buying an additional 176 shares during the period. Finally, Callahan Advisors LLC boosted its holdings in shares of Willis Towers Watson by 0.5% during the 1st quarter. Callahan Advisors LLC now owns 17,918 shares of the financial services provider’s stock valued at $3,043,000 after buying an additional 91 shares in the last quarter. 90.05% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on WLTW. BidaskClub cut shares of Willis Towers Watson from a “buy” rating to a “hold” rating in a research report on Wednesday, June 10th. MKM Partners lowered shares of Willis Towers Watson from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $185.00 in a report on Friday, May 1st. UBS Group cut their price target on Willis Towers Watson from $218.00 to $212.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Raymond James lifted their price objective on Willis Towers Watson from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, TheStreet cut Willis Towers Watson from a “b” rating to a “c+” rating in a research note on Thursday, April 30th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $213.86.
Willis Towers Watson (NASDAQ:WLTW) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.18. Willis Towers Watson had a net margin of 11.00% and a return on equity of 14.32%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business posted $1.78 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that Willis Towers Watson PLC will post 11.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Monday, June 29th. Willis Towers Watson’s dividend payout ratio (DPR) is presently 24.82%.
About Willis Towers Watson
Willis Towers Watson Public Limited Company operates as an advisory, broking, and solutions company worldwide. The company's Human Capital and Benefits segment offers actuarial support, plan design, and administrative services for traditional pension and retirement savings plans; plan management consulting, broking, and administration services for health and group benefit programs; and benefits outsourcing services.
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