American International Group Inc. Sells 6,485 Shares of Corteva, Inc. (NYSE:CTVA)

American International Group Inc. lowered its stake in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,872 shares of the company’s stock after selling 6,485 shares during the period. American International Group Inc.’s holdings in Corteva were worth $8,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital International Investors increased its holdings in shares of Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after acquiring an additional 8,260,808 shares in the last quarter. Norges Bank bought a new stake in Corteva during the 4th quarter worth approximately $265,298,000. Harris Associates L P acquired a new stake in Corteva during the 3rd quarter worth approximately $246,423,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Corteva by 19.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after buying an additional 2,141,428 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Corteva by 2.4% during the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Shares of NYSE CTVA opened at $52.90 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $36.87 billion, a P/E ratio of 66.96, a P/E/G ratio of 1.40 and a beta of 0.78. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.81. The stock has a 50 day moving average of $55.80 and a 200-day moving average of $52.05.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 earnings per share. As a group, equities research analysts predict that Corteva, Inc. will post 2.82 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.21%. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. Barclays boosted their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Corteva from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada lifted their target price on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, KeyCorp lifted their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.05.

Get Our Latest Research Report on CTVA

Insider Transactions at Corteva

In other news, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock worth $4,795,016 over the last quarter. Company insiders own 0.14% of the company’s stock.

About Corteva

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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