Willis Towers Watson (WTW)
Advises employers on people and capital while brokering commercial and specialty insurance.
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Advises employers and institutions on health benefits, retirement, investments, compensation and workforce programs, while brokering commercial and specialty insurance and supplying actuarial technology to insurers. Revenue comes mainly from consulting fees and brokerage commissions across two global segments, with administration and retirement relationships often recurring under multi-year contracts.
Advises employers and institutions on health benefits, retirement, investment portfolios, compensation and employee experience through Health, Wealth & Career. Benefits Delivery & Outsourcing adds pension and benefits administration, while consulting, technology and multi-year service contracts generate recurring client work.
Places commercial and specialty insurance through Corporate Risk & Broking and supplies actuarial consulting and software to insurers through Insurance Consulting and Technology. Operations span North America, Europe and other international markets, serving middle-market businesses, multinationals and public institutions. Brokerage revenue comes from fees and commissions; it does not underwrite insurance risk. Commission income moves with carrier-set premiums, while pension and benefits work depends on evolving regulation.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Mizuho Securities | Target | Target: $406 | Target: $380 |
| Aug 19, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $315 | Target: $350 |
| Aug 3, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $344 | Target: $380 |
| Aug 3, 2026 | UBS | Reiterate | Rating: —Target: $382 | Target: $405 |
| Aug 3, 2026 | Morgan Stanley | Target | Target: $275 | Target: $315 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.63B · Total debt $7.10B · Total assets $30.56B · Shareholders' equity $7.69B
- Revenue
- $2.47B
- Operating income
- $364.0M
- Net income
- $229.0M
HistoryDividendAnnual yieldUpcoming
| Institutions | 98.80% | 91.76M shares | |
|---|---|---|---|
| 707 holders · as of Jun 30, 2026 | |||
| Insiders | 0.39% | 360.9K shares | |
| 20 holders · as of Aug 12, 2026 | |||
| Strategic holders | 5.97% | 5.54M shares | |
| 1 holder · as of Aug 13, 2026 | |||
| Adds to | 105.16% | ||
92.87M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 105.16%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.95% | 8.31M | as of Jun 30, 2026 |
Dodge & CoxInstitution | 8.64% | 8.03M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.65% | 6.17M | as of Jun 30, 2026 |
Harris Associates L PInstitution | 6.36% | 5.91M | as of Jun 30, 2026 |
Artisan Partners Limited PartnershipInstitution | 5.97% | 5.54M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Alexis Faber | officer: Chief Operating Officer | −730 | $342.70 |
| May 6, 2026 | Lucy Clarke | officer: President of Risk & Broking | +1,896 | $263.37 |
| May 4, 2026 | Carl Aaron Hess | director, officer: Chief Executive Officer | +2,000 | $255.08 |
| Mar 3, 2026 | Matthew Furman | officer: General Counsel | −3,000 | $304.00 |
| Feb 13, 2026 | Lucy Clarke | officer: President of Risk & Broking | +3,500 | $284.84 |
- Aon
Near-peer in every WTW market; tried $30B acquisition blocked by DOJ in 2021.
- Arthur J. Gallagher
Bought Willis Re (Gallagher Re); fast-growing P&C and reinsurance challenger.
- Brown & Brown
Named in WTW's 10-K; high-growth independent P&C and employee benefits broker.
- ADP
Named in WTW 10-K; HCM platform competes in benefits admin and private exchange.
- Cognizant Technology Solutions
Named in WTW 10-K; IT/BPO rival in HR tech, benefits admin, insurance systems.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Willis Towers Watson | $299.30 | −2.45% | $28.49B | 18.9 | 14.3 | 2.8 | +9.1% |
| Aon | $286.26 | −1.57% | $61.69B | 16.0 | 14.7 | 3.5 | +2.2% |
| Arthur J. Gallagher | $229.49 | −3.01% | $60.79B | 39.2 | 16.3 | 3.9 | +22.8% |
| Brown & Brown | $62.35 | −3.03% | $21.52B | 19.0 | 13.5 | 3.1 | +34.2% |
| ADP | $268.49 | −0.54% | $107.90B | 24.7 | 21.9 | 4.9 | +6.8% |
| Cognizant Technology Solutions | $58.51 | −1.46% | $26.75B | 12.8 | 9.6 | 1.2 | +4.5% |
| Median | 19.0 | 14.7 | 3.5 | +6.8% |