Shareholder activism
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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SEC filings show that, in Q3, the activist shareholder liquidated its remaining 508,880 shares in WTW — worth around $120mn at the end of Q2.
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Inside P&C’s news team runs you through the key highlights of the week.
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In a recent report titled “TFC: Primed for activist”, Wells Fargo notes investor discontent and lists pressing issues to be addressed at Truist.
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The investor’s stake in WTW is now valued at roughly $120mn, while its position the prior quarter was worth around $423mn, according to its Q1 13-F filed with the SEC.
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Three months ago, Starboard trimmed its stake by almost 14% to 1,925,491 shares valued at over $470mn from 2,232,209 shares at the end of Q3.
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At the end of October, the investor decreased its stake in the specialty insurer to around 3.05% from over 6.3% at the end of Q3, filings show.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Margin expansion and higher returns to shareholders would come at a cost with a cut in investment and staff over the coming years.
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