Corebridge Financial Inc. Has $50.52 Million Stock Position in Accenture plc (NYSE:ACN)

Corebridge Financial Inc. lessened its holdings in Accenture plc (NYSE:ACN) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,611 shares of the information technology services provider’s stock after selling 9,447 shares during the quarter. Corebridge Financial Inc.’s holdings in Accenture were worth $50,521,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ACN. Morse Asset Management Inc acquired a new position in shares of Accenture during the 3rd quarter worth about $25,000. FPC Investment Advisory Inc. boosted its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Accenture during the 4th quarter worth approximately $30,000. POM Investment Strategies LLC raised its stake in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $34,000. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research report on Friday. Stifel Nicolaus reduced their price target on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.05.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is currently owned by insiders.

Accenture Trading Up 1.4 %

Shares of ACN stock opened at $305.17 on Monday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The stock’s fifty day moving average price is $359.16 and its two-hundred day moving average price is $357.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $190.97 billion, a PE ratio of 25.60, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.77 earnings per share. Equities analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.94%. Accenture’s dividend payout ratio is currently 49.66%.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.