CANADA LIFE ASSURANCE Co Purchases 267,298 Shares of Corteva, Inc. (NYSE:CTVA)

CANADA LIFE ASSURANCE Co boosted its position in Corteva, Inc. (NYSE:CTVA) by 37.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 977,071 shares of the company’s stock after acquiring an additional 267,298 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Corteva were worth $55,591,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTVA. Vanguard Group Inc. increased its stake in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after buying an additional 646,459 shares during the period. Independent Franchise Partners LLP raised its holdings in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the period. Invesco Ltd. boosted its stake in shares of Corteva by 2.4% during the 4th quarter. Invesco Ltd. now owns 11,074,633 shares of the company’s stock valued at $630,811,000 after purchasing an additional 264,531 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after buying an additional 525,531 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 0.8 %

CTVA stock opened at $59.69 on Friday. The stock has a market capitalization of $40.77 billion, a P/E ratio of 46.27, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The business has a fifty day moving average price of $61.04 and a 200-day moving average price of $60.27.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. Bank of America lifted their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. UBS Group reduced 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. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. KeyCorp increased their price target on shares of Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.13.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were 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 owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

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.