Allianz Asset Management GmbH Sells 11,157 Shares of Electronic Arts Inc. $EA

Key Points

• Allianz Asset Management GmbH has sold 11,157 shares of Electronic Arts Inc., reducing its stake by 3.4% to own 321,561 shares valued at approximately $51.35 million.
• Multiple institutional investors have increased their holdings in Electronic Arts, with Frazier Financial Advisors raising its position by 328.9% in the second quarter.
• Analysts have mixed ratings for Electronic Arts, with BMO Capital Markets raising their price target from $166 to $210, while others downgraded their ratings, indicating a consensus average rating of "Hold."

Allianz Asset Management GmbH decreased its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 321,561 shares of the game software company's stock after selling 11,157 shares during the period. Allianz Asset Management GmbH owned 0.13% of Electronic Arts worth $51,353,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC raised its position in Electronic Arts by 328.9% in the second quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company's stock worth $31,000 after acquiring an additional 148 shares during the period. Bank of Jackson Hole Trust raised its position in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after acquiring an additional 75 shares during the period. ORG Partners LLC raised its position in Electronic Arts by 47.6% in the second quarter. ORG Partners LLC now owns 251 shares of the game software company's stock worth $40,000 after acquiring an additional 81 shares during the period. Wayfinding Financial LLC bought a new stake in Electronic Arts in the first quarter worth about $39,000. Finally, Costello Asset Management INC bought a new stake in Electronic Arts in the first quarter worth about $40,000. Institutional investors own 90.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on EA shares. BMO Capital Markets lifted their price objective on shares of Electronic Arts from $166.00 to $210.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 30th. Cowen lowered shares of Electronic Arts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 1st. Citigroup reiterated a "neutral" rating on shares of Electronic Arts in a research note on Friday, September 26th. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, Bank of America lifted their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Electronic Arts has an average rating of "Hold" and an average target price of $177.00.

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $171.69, for a total transaction of $429,225.00. Following the completion of the transaction, the insider owned 55,592 shares of the company's stock, valued at approximately $9,544,590.48. The trade was a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 1,200 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $244,080.00. Following the transaction, the insider directly owned 33,531 shares of the company's stock, valued at approximately $6,820,205.40. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,900 shares of company stock valued at $7,506,487 in the last quarter. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Price Performance

EA opened at $200.30 on Friday. The company has a market capitalization of $50.12 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 3.04 and a beta of 0.77. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $180.90 and a 200-day moving average price of $160.42. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $203.75.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's payout ratio is currently 19.05%.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.

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