Tokio Marine Asset Management Co. Ltd. Acquires 400 Shares of Corteva, Inc. (NYSE:CTVA)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,038 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Corteva were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. First Financial Corp IN purchased a new position in Corteva in the fourth quarter worth $35,000. Albion Financial Group UT grew its position in Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares in the last quarter. Bangor Savings Bank grew its position in Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after acquiring an additional 241 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in Corteva in the fourth quarter worth $55,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 1.1 %

NYSE:CTVA opened at $64.57 on Tuesday. The company’s 50 day moving average price is $60.14 and its 200-day moving average price is $57.93. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $44.37 billion, a price-to-earnings ratio of 65.22, a PEG ratio of 1.71 and a beta of 0.78.

Corteva announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is 68.69%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CTVA shares. KeyCorp cut their target price on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Barclays boosted their price target 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. Bank of America boosted their price target 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 from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.06.

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.