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

American International Group Inc. decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Essex Financial Services Inc. raised its stake in Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock valued at $352,000 after buying an additional 215 shares during the period. Baxter Bros Inc. raised its stake in Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after buying an additional 215 shares during the period. Wealthcare Advisory Partners LLC raised its stake in Corteva by 4.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,361 shares of the company’s stock valued at $257,000 after buying an additional 242 shares during the period. Westpac Banking Corp raised its stake in Corteva by 4.1% in the fourth quarter. Westpac Banking Corp now owns 6,290 shares of the company’s stock valued at $301,000 after buying an additional 249 shares during the period. Finally, Portside Wealth Group LLC raised its stake in Corteva by 6.3% in the fourth quarter. Portside Wealth Group LLC now owns 4,495 shares of the company’s stock valued at $215,000 after buying an additional 266 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CTVA shares. OTR Global reiterated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Oppenheimer increased their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Barclays increased their target price on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, Wolfe Research started coverage on Corteva in a research note on Friday, March 1st. They set an “outperform” rating and a $67.00 target price on the stock. One investment 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. According to data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Activity at Corteva

In related news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated 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 directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock valued at $4,795,016 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Corteva Trading Down 0.2 %

Shares of CTVA stock opened at $51.91 on Wednesday. The stock’s fifty day moving average price is $55.02 and its two-hundred day moving average price is $52.37. The company has a market cap of $36.18 billion, a PE ratio of 65.71, a P/E/G ratio of 1.36 and a beta of 0.78. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. Equities analysts predict that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

Corteva Company 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.