Corebridge Financial Inc. Has $9.27 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Corebridge Financial Inc. trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 5.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 162,824 shares of the company’s stock after selling 9,108 shares during the period. Corebridge Financial Inc.’s holdings in Corteva were worth $9,274,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Flagship Wealth Advisors LLC acquired a new position in Corteva in the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in Corteva in the fourth quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in Corteva during the fourth quarter worth about $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva during the fourth quarter worth about $32,000. Finally, Centricity Wealth Management LLC bought a new position in Corteva in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Corteva Price Performance

CTVA stock opened at $62.54 on Friday. The company has a market capitalization of $42.88 billion, a P/E ratio of 48.48, a PEG ratio of 1.68 and a beta of 0.79. The company has a fifty day moving average price of $62.56 and a 200-day moving average price of $60.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 EPS 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 analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. UBS Group decreased their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. KeyCorp upped their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

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.