Tokio Marine Asset Management Co. Ltd. Has $1.65 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Corteva, Inc. (NYSE:CTVA) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its holdings in shares of Corteva by 44.4% during 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 during the period. First Financial Corp IN bought a new stake in shares of Corteva in the fourth quarter valued at approximately $35,000. Albion Financial Group UT boosted its stake in shares of Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the period. Bangor Savings Bank boosted its stake in shares of Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after buying an additional 241 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Corteva in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $64.57 on Tuesday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. 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. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm’s 50-day simple moving average is $60.14 and its 200 day simple moving average is $57.93.

Corteva declared that its board has approved a stock buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. KeyCorp cut their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Bank of America boosted their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their price objective on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Barclays boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $67.06.

About Corteva

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.