7 Best Insurance Brokerage Stocks to Invest in Now

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

Number of Hedge Fund Holders: 47

Willis Towers Watson Public Limited Company (NASDAQ:WTW) is a British-American multinational firm that specializes in commercial insurance brokerage and strategic risk management services. The company operates in 140 countries, providing data-driven solutions in the areas of people, risk, and capital to help clients enhance their strategies and maximize performance.

On October 28, WTW secured an insurance license to operate as a broker in Saudi Arabia, expanding its global footprint. Additionally, on October 29, 2024, Willis Towers Watson Public Limited Company (NASDAQ:WTW) launched a new insurance brokerage service in Japan, further strengthening its Corporate Risk & Broking business.

In the second quarter of 2024, the company reported a revenue increase of 5%, reaching $2.3 billion, with organic growth of 6%. Willis Towers Watson Public Limited Company’s (NASDAQ:WTW) diluted earnings per share rose significantly by 55% to $1.36, while adjusted diluted EPS increased by 24% to $2.55. The Risk & Broking segment performed well, generating $979 million in revenue for the quarter, a 9% increase from the previous year. This growth was driven by strong client retention and new business activity across all regions.

Analysts expect Willis Towers Watson Public Limited Company (NASDAQ:WTW) to grow its earnings by 13.40% in the current year. Additionally, analysts have set a 12-month median price target of $320.00 for WTW stock, suggesting a potential upside of 9% from its current price.

The company’s strategic focus on expanding its services and entering new markets positions it well for future growth. As of the second quarter of 2024,Willis Towers Watson Public Limited Company (NASDAQ:WTW) was held by 47 hedge funds, according to Insider Monkey’s database. WTW ranks among the top 3 on our list of the best insurance brokerage stocks to invest in.