Corteva, Inc. (NYSE:CTVA) Shares Bought by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,220 shares of the company’s stock after buying an additional 255 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Corteva were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CTVA. Anomaly Capital Management LP purchased a new stake in shares of Corteva in the 2nd quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. raised its position in Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after purchasing an additional 3,254,126 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Corteva during the third quarter worth $99,869,000. Bank of New York Mellon Corp boosted its position in shares of Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after buying an additional 1,514,954 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of Corteva by 700.2% in the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock valued at $70,230,000 after buying an additional 1,139,297 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 1.4 %

Shares of NYSE:CTVA opened at $63.26 on Wednesday. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $64.20. The stock has a market cap of $43.48 billion, a P/E ratio of 63.90, a P/E/G ratio of 1.99 and a beta of 0.77. The firm has a fifty day moving average price of $58.97 and a 200 day moving average price of $55.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva announced that its Board of Directors has authorized a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.07%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Analysts Set New Price Targets

CTVA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Bank of America upped their target price on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Finally, Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.33.

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.