ValueAct Capital Sells Some Willis Towers Watson ~ market folly

Tuesday, May 23, 2017

ValueAct Capital Sells Some Willis Towers Watson

Jeff Ubben's activist firm ValueAct Capital has filed a Form 4 with the SEC regarding its position in Willis Towers Watson (WLTW).  Per the filing, ValueAct sold WLTW shares on May 17th through 19th at prices between $140.11 and $141.05.  In total, they sold 1 million shares.

After these transactions, ValueAct still owns 7.1 million shares of WLTW.  Ubben's firm has trimmed a few positions in the past few months as he feels the market has been overvalued and has been having a hard time finding new opportunities.  That said, ValueAct did reportedly take a stake in KKR.

Per Google Finance, 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. The Willis GB segment comprises four business units: Property and Casualty, Transport, Financial Lines and Retail Networks. The Willis Capital Wholesale and Reinsurance segment includes Willis Re; Willis Capital Markets & Advisory; Willis' wholesale business, and Willis Portfolio Underwriting Services. The Willis North America segment provides risk management, insurance brokerage and related risk services."

You can view the rest of ValueAct's portfolio in the new issue of our Hedge Fund Wisdom newsletter.

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