State of Michigan Retirement System lifted its holdings in Willis Towers Watson PLC (NASDAQ:WLTW) by 11.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 32,911 shares of the financial services provider’s stock after purchasing an additional 3,433 shares during the period. State of Michigan Retirement System’s holdings in Willis Towers Watson were worth $6,482,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of WLTW. Ameritas Investment Company LLC boosted its stake in shares of Willis Towers Watson by 416.7% during the first quarter. Ameritas Investment Company LLC now owns 186 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 150 shares in the last quarter. Ellevest Inc. increased its stake in shares of Willis Towers Watson by 51.7% in the first quarter. Ellevest Inc. now owns 229 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 78 shares during the period. Carroll Financial Associates Inc. grew its position in Willis Towers Watson by 341.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 287 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 222 shares during the period. Signaturefd LLC grew its holdings in Willis Towers Watson by 73.2% during the first quarter. Signaturefd LLC now owns 336 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 142 shares during the period. Finally, Procyon Private Wealth Partners LLC increased its holdings in Willis Towers Watson by 43.4% in the 1st quarter. Procyon Private Wealth Partners LLC now owns 347 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 105 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.
NASDAQ WLTW opened at $210.01 on Friday. The stock’s fifty day moving average is $199.90 and its two-hundred day moving average is $195.54. The firm has a market capitalization of $27.04 billion, a P/E ratio of 18.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 1.62. Willis Towers Watson PLC has a fifty-two week low of $143.34 and a fifty-two week high of $220.97.
Willis Towers Watson (NASDAQ:WLTW) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.18. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.05 billion. Willis Towers Watson had a return on equity of 14.32% and a net margin of 11.00%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. As a group, sell-side analysts forecast that Willis Towers Watson PLC will post 11.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, June 29th. Willis Towers Watson’s payout ratio is currently 24.82%.
WLTW has been the topic of several research analyst reports. UBS Group dropped their target price on shares of Willis Towers Watson from $218.00 to $212.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Raymond James lifted their price objective on Willis Towers Watson from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Citigroup boosted their price objective on Willis Towers Watson from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Wells Fargo & Co decreased their target price on Willis Towers Watson from $232.00 to $211.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Morgan Stanley dropped their price target on Willis Towers Watson from $239.00 to $229.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Willis Towers Watson has an average rating of “Hold” and a consensus target price of $213.86.
Willis Towers Watson Profile
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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