AIA Group Ltd Has $4.15 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

AIA Group Ltd raised its holdings in Corteva, Inc. (NYSE:CTVA) by 52.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 65,914 shares of the company’s stock after acquiring an additional 22,817 shares during the quarter. AIA Group Ltd’s holdings in Corteva were worth $4,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Independent Advisor Alliance increased its position in Corteva by 3.9% in the 1st quarter. Independent Advisor Alliance now owns 10,705 shares of the company’s stock valued at $674,000 after acquiring an additional 398 shares during the period. SouthState Corp increased its position in Corteva by 106.2% in the 1st quarter. SouthState Corp now owns 9,946 shares of the company’s stock valued at $626,000 after acquiring an additional 5,123 shares during the period. Nuveen LLC acquired a new position in Corteva in the 1st quarter valued at approximately $640,333,000. Strengthening Families & Communities LLC increased its position in Corteva by 1.5% in the 1st quarter. Strengthening Families & Communities LLC now owns 44,650 shares of the company’s stock valued at $2,797,000 after acquiring an additional 668 shares during the period. Finally, Biltmore Family Office LLC acquired a new stake in shares of Corteva during the first quarter worth $213,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Down 0.3%

Shares of NYSE CTVA opened at $70.87 on Monday. The firm has a market cap of $48.12 billion, a PE ratio of 34.57, a P/E/G ratio of 1.64 and a beta of 0.75. Corteva, Inc. has a 12-month low of $50.78 and a 12-month high of $77.41. The company’s fifty day simple moving average is $73.29 and its 200 day simple moving average is $66.56. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $1.83 earnings per share. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is currently 33.17%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTVA. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a report on Friday, June 6th. Barclays increased their price target on Corteva from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Royal Bank Of Canada increased their price target on Corteva from $74.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, July 10th. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Oppenheimer set a $87.00 price target on Corteva and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $79.50.

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.