Billionaire Seth Klarman’s Top 5 Dividend Stock Picks

2. Willis Towers Watson Public Limited Company (NASDAQ:WTW)

Baupost Group’s Stake Value: $258,294,000
Dividend Yield as of November 15: 1.40%

Willis Towers Watson Public Limited Company (NASDAQ:WTW) is a London-based multinational insurance company that provides related insurance advisory services to its consumers. During Q3 2022, Baupost Group increased its stake in the company by 39%. The firm owned a WTW stake worth over $258.2 million, which represented 4.45% of billionaire Seth Klarman’s portfolio.

Willis Towers Watson Public Limited Company (NASDAQ:WTW) currently pays a quarterly dividend of $0.82 per share. The stock has a dividend yield of 1.40%, as of November 15.

Piper Sandler upgraded Willis Towers Watson Public Limited Company (NASDAQ:WTW) to Overweight in October with a $250 price target. The firm mentioned that the company would be able to produce solid results due to its organic growth and cost-cutting efforts.

As per Insider Monkey’s Q2 2022 database, 50 hedge funds reported owning stakes in Willis Towers Watson Public Limited Company (NASDAQ:WTW), compared with 49 in the previous quarter. These stakes have a total value of over $1.7 billion.

Artisan Partners mentioned Willis Towers Watson Public Limited Company (NASDAQ:WTW) in its Q3 2022 investor letter. Here is what the firm has to say:

“Willis Towers Watson Public Limited Company (NASDAQ:WTW) shares rose 2% in the quarter. This modest increase made it one of our best performers during a difficult quarter. Absent significant news, the business continues to benefit from a hard insurance market. Results are still lagging peers, but the management team seems to be making progress in closing the gap. In the meantime, the company is returning significant amounts of capital to shareholders. Over the past eight months, it has repurchased $4 billion in stock and reduced the share count by 15%. And there is more on the way. This is a good business in a fantastic industry trading at 12X normalized earnings. We believe it is worth much more.”