Cornerstone Capital Management Holdings LLC. grew its stake in Willis Towers Watson (NASDAQ:WLTW) by 101.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,395 shares of the financial services provider’s stock after buying an additional 23,341 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Willis Towers Watson were worth $6,990,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of WLTW. FNY Managed Accounts LLC acquired a new stake in shares of Willis Towers Watson in the fourth quarter worth $149,000. Calton & Associates Inc. acquired a new stake in shares of Willis Towers Watson in the fourth quarter worth $192,000. Capital Wealth Planning LLC acquired a new stake in shares of Willis Towers Watson in the third quarter worth $204,000. Dean Capital Investments Management LLC acquired a new stake in shares of Willis Towers Watson in the fourth quarter worth $201,000. Finally, Advisor Partners LLC acquired a new stake in shares of Willis Towers Watson in the fourth quarter worth $217,000. 93.73% of the stock is owned by institutional investors and hedge funds.
In related news, insider Joseph Gunn sold 9,438 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $159.95, for a total transaction of $1,509,608.10. Following the sale, the insider now owns 22,041 shares in the company, valued at $3,525,457.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.70% of the stock is currently owned by company insiders.
Shares of Willis Towers Watson (WLTW) opened at $159.18 on Tuesday. The company has a market cap of $21,524.80, a price-to-earnings ratio of 38.08, a P/E/G ratio of 1.61 and a beta of 0.88. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.43. Willis Towers Watson has a 52-week low of $125.66 and a 52-week high of $165.00.
Willis Towers Watson (NASDAQ:WLTW) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.99 billion. Willis Towers Watson had a net margin of 6.93% and a return on equity of 11.25%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.88 earnings per share. equities analysts expect that Willis Towers Watson will post 9.9 EPS for the current year.
Willis Towers Watson announced that its Board of Directors has initiated a stock buyback plan on Monday, February 26th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Saturday, March 31st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, March 28th. This is a positive change from Willis Towers Watson’s previous quarterly dividend of $0.53. Willis Towers Watson’s dividend payout ratio (DPR) is currently 50.72%.
About Willis Towers Watson
Willis Towers Watson Public Limited Company (Willis Towers Watson) is a holding company. The Company operates as a global advisory, broking and solutions company. It is engaged in offering risk management, insurance broking, consulting, technology and solutions, and private exchanges. The Company operates through eight segments: Willis International; Willis North America; Willis Capital, Wholesale & Reinsurance (CWR); Willis GB; Towers Watson Benefits; Towers Watson Exchange Solutions; Towers Watson Risk and Financial Services; and Towers Watson Talent and Rewards.
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