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

AIA Group Ltd acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 43,097 shares of the company’s stock, valued at approximately $2,455,000.

Other institutional investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in Corteva in the fourth quarter worth $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva during the 4th quarter valued at about $26,000. Hager Investment Management Services LLC bought a new position in shares of Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new position in Corteva in the fourth quarter worth about $32,000. Finally, Centricity Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

CTVA stock opened at $62.96 on Tuesday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The business has a 50-day moving average price of $62.55 and a 200 day moving average price of $60.19. The company has a market capitalization of $43.00 billion, a P/E ratio of 48.80, a PEG ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. Corteva’s dividend payout ratio is presently 52.71%.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup lifted their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Barclays boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. BNP Paribas upgraded shares of Corteva to a “hold” rating in a report on Monday, February 10th. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

About Corteva

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.