Corebridge Financial Inc. Raises Stock Position in Accenture PLC $ACN

Key Points

• Corebridge Financial Inc. increased its stake in Accenture PLC by 1.9% during the first quarter, resulting in ownership of 146,353 shares valued at approximately $45.67 million.
• Accenture reported $3.49 earnings per share in its latest quarterly results, exceeding analysts' expectations and showcasing a 7.7% year-over-year revenue growth to $17.73 billion.
• The company declared a quarterly dividend of $1.48 per share, equating to an annual yield of 2.3%, with 75.14% of the company’s stock owned by institutional investors.

Corebridge Financial Inc. grew its stake in Accenture PLC (NYSE:ACN - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,353 shares of the information technology services provider's stock after buying an additional 2,742 shares during the period. Corebridge Financial Inc.'s holdings in Accenture were worth $45,668,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Lipe & Dalton boosted its position in Accenture by 2,087.4% during the 1st quarter. Lipe & Dalton now owns 5,031 shares of the information technology services provider's stock valued at $1,570,000 after buying an additional 4,801 shares during the period. Alteri Wealth LLC purchased a new stake in Accenture during the 4th quarter valued at about $321,000. United Bank purchased a new stake in Accenture during the 1st quarter valued at about $758,000. Exchange Traded Concepts LLC grew its position in Accenture by 62.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock valued at $282,000 after purchasing an additional 347 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Accenture during the 4th quarter valued at about $317,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Accenture Stock Performance

ACN stock opened at $258.8940 on Monday. The company has a market capitalization of $162.15 billion, a P/E ratio of 20.61, a PEG ratio of 2.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The business has a 50-day moving average price of $277.65 and a 200 day moving average price of $305.97. Accenture PLC has a 1-year low of $236.67 and a 1-year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the previous year, the firm earned $3.13 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. Accenture has set its Q4 2025 guidance at EPS. FY 2025 guidance at 12.770-12.890 EPS. As a group, equities research analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.3%. Accenture's dividend payout ratio (DPR) is currently 47.13%.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.45, for a total value of $635,794.95. Following the sale, the chief executive officer owned 8,109 shares of the company's stock, valued at $2,290,387.05. This trade represents a 21.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mauro Macchi sold 500 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the sale, the chief executive officer directly owned 2,283 shares in the company, valued at $644,582.22. This represents a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock valued at $834,280 in the last quarter. Corporate insiders own 0.02% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group reaffirmed a "buy" rating and set a $395.00 price target (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Guggenheim lowered their price objective on shares of Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Accenture in a research note on Thursday, July 17th. They issued a "hold" rating and a $290.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 24th. Finally, BMO Capital Markets decreased their target price on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research note on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $358.08.

About Accenture

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.

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