Municipal Employees Retirement System of Michigan raised its holdings in shares of Willis Towers Watson PLC (NASDAQ:WLTW) by 347.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,830 shares of the financial services provider’s stock after purchasing an additional 6,080 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Willis Towers Watson were worth $1,500,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Clean Yield Group acquired a new position in shares of Willis Towers Watson during the second quarter worth $28,000. Investors Research Corp acquired a new position in shares of Willis Towers Watson during the first quarter worth $27,000. First Hawaiian Bank increased its position in shares of Willis Towers Watson by 5,000.0% during the first quarter. First Hawaiian Bank now owns 153 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Private Ocean LLC acquired a new position in shares of Willis Towers Watson during the second quarter worth $38,000. Finally, YorkBridge Wealth Partners LLC acquired a new position in shares of Willis Towers Watson during the first quarter worth $82,000. 92.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ WLTW traded up $2.72 during mid-day trading on Tuesday, hitting $195.65. The stock had a trading volume of 15,979 shares, compared to its average volume of 575,563. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s 50 day moving average price is $195.35. Willis Towers Watson PLC has a twelve month low of $134.50 and a twelve month high of $200.93. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.71 and a beta of 0.82.
Willis Towers Watson (NASDAQ:WLTW) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.02. Willis Towers Watson had a return on equity of 13.00% and a net margin of 9.86%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm earned $1.70 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Willis Towers Watson PLC will post 10.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Sunday, June 30th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, June 27th. Willis Towers Watson’s payout ratio is 26.72%.
WLTW has been the topic of several research reports. Barclays upped their target price on Willis Towers Watson from $205.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 1st. ValuEngine downgraded Willis Towers Watson from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group upped their target price on Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Co reissued a “buy” rating and issued a $220.00 target price on shares of Willis Towers Watson in a research report on Wednesday, July 31st. Finally, SunTrust Banks upped their target price on Willis Towers Watson from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Willis Towers Watson has an average rating of “Buy” and a consensus target price of $200.58.
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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