AIA Group Ltd Purchases Shares of 43,097 Corteva, Inc. (NYSE:CTVA)

AIA Group Ltd acquired a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 43,097 shares of the company's stock, valued at approximately $2,455,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTVA. Oak Thistle LLC bought a new position in shares of Corteva during the 4th quarter valued at about $1,514,000. Van ECK Associates Corp grew its position in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after acquiring an additional 525,531 shares during the last quarter. Swedbank AB raised its stake in shares of Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after acquiring an additional 237,764 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after acquiring an additional 488,181 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its stake in shares of Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock valued at $5,474,000 after purchasing an additional 33,886 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA traded down $5.64 during mid-day trading on Friday, hitting $55.66. 6,391,602 shares of the company traded hands, compared to its average volume of 3,247,942. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a 50-day moving average price of $62.36 and a two-hundred day moving average price of $60.29. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Remove Ads

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's payout ratio is 52.71%.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CTVA. BNP Paribas upgraded shares of Corteva to a "hold" rating in a research report on Monday, February 10th. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. UBS Group lowered their price objective on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and an average target price of $68.06.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.