Willis Towers Watson Public Limited Company (WLTW) Issues Earnings Results
Willis Towers Watson Public Limited Company (NASDAQ:WLTW) announced its earnings results on Thursday. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01), Bloomberg Earnings reports. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Willis Towers Watson Public Limited had a net margin of 4.43% and a return on equity of 10.93%. Willis Towers Watson Public Limited’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Willis Towers Watson Public Limited updated its FY17 guidance to $8.36-8.51 EPS.
Shares of Willis Towers Watson Public Limited (WLTW) traded down $1.23 during trading on Friday, reaching $159.68. 362,182 shares of the company traded hands, compared to its average volume of 689,964. The company has a market capitalization of $21,198.84, a P/E ratio of 19.30 and a beta of 0.91.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, September 28th. Willis Towers Watson Public Limited’s dividend payout ratio is currently 81.85%.
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A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $158.00 target price on shares of Willis Towers Watson Public Limited in a research note on Friday, July 14th. Wells Fargo & Company reiterated a “sell” rating and set a $124.00 target price on shares of Willis Towers Watson Public Limited in a research note on Thursday. Zacks Investment Research lowered Willis Towers Watson Public Limited from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Citigroup Inc. upped their price objective on Willis Towers Watson Public Limited from $166.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $166.00 price objective on shares of Willis Towers Watson Public Limited in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $155.80.
In related news, CFO Roger F. Millay sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $149.58, for a total value of $2,991,600.00. Following the completion of the transaction, the chief financial officer now owns 14,059 shares of the company’s stock, valued at approximately $2,102,945.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Ubben sold 206,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $148.02, for a total transaction of $30,492,120.00. The disclosure for this sale can be found here. Insiders sold a total of 4,845,295 shares of company stock valued at $728,949,063 in the last ninety days. 6.70% of the stock is currently owned by insiders.
Willis Towers Watson Public Limited Company Profile
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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