American International Group Inc. Sells 1,310 Shares of Corteva, Inc. (NYSE:CTVA)

American International Group Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,562 shares of the company’s stock after selling 1,310 shares during the period. American International Group Inc.’s holdings in Corteva were worth $10,586,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its stake in shares of Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after acquiring an additional 8,260,808 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after buying an additional 2,141,428 shares during the last quarter. Northern Trust Corp grew its stake in shares of Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after buying an additional 310,012 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after buying an additional 617,030 shares during the last quarter. Finally, Harris Associates L P lifted its position in Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after acquiring an additional 4,194,981 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the sale, the senior vice president now directly owns 126,628 shares in the company, valued at $7,269,713.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction on 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 sale, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock worth $4,795,016 over the last three months. Company insiders own 0.14% of the company’s stock.

Corteva Stock Down 1.0 %

NYSE CTVA traded down $0.57 on Wednesday, hitting $53.82. The stock had a trading volume of 1,908,058 shares, compared to its average volume of 3,437,474. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The business’s fifty day moving average price is $53.71 and its 200 day moving average price is $53.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The stock has a market cap of $37.51 billion, a price-to-earnings ratio of 68.13, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.78 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. Corteva’s dividend payout ratio is presently 81.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CTVA shares. Barclays increased their price target on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Canaccord Genuity Group raised their price objective on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Wells Fargo & Company raised their price objective on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $63.00.

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.