Willis Towers Watson (NASDAQ:WLTW) announced that its board has initiated a stock buyback program, which permits the company to repurchase $400.00 million in shares on Monday, February 26th, EventVestor reports. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Willis Towers Watson (NASDAQ WLTW) traded up $1.25 during mid-day trading on Tuesday, reaching $161.21. 341,700 shares of the company traded hands, compared to its average volume of 596,034. The stock has a market cap of $21,137.05, a P/E ratio of 38.52, a PEG ratio of 1.59 and a beta of 0.90. Willis Towers Watson has a 52 week low of $125.66 and a 52 week high of $165.00. The company has a quick ratio of 1.97, a current ratio of 1.82 and a debt-to-equity ratio of 0.43.
Willis Towers Watson (NASDAQ:WLTW) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 EPS. analysts predict that Willis Towers Watson will post 9.9 earnings per share for the current fiscal year.
In related news, insider Joseph Gunn sold 9,438 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $159.95, for a total value of $1,509,608.10. Following the transaction, the insider now owns 22,041 shares of the company’s stock, valued at approximately $3,525,457.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.70% of the company’s stock.
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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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