Allstate Corp Boosts Stock Holdings in Electronic Arts Inc. $EA

Key Points

• Allstate Corp increased its holdings in Electronic Arts Inc. by 30.8% during the first quarter, now owning 9,757 shares valued at approximately $1.41 million.
• CEO Andrew Wilson sold 5,000 shares of Electronic Arts for around $855,250, resulting in an 8.71% decrease in his ownership of the stock.
• Electronic Arts announced a quarterly dividend of $0.19 per share, with shareholders of record on August 27th set to receive it, reflecting an annualized dividend yield of 0.4%.

Allstate Corp grew its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,757 shares of the game software company's stock after acquiring an additional 2,300 shares during the period. Allstate Corp's holdings in Electronic Arts were worth $1,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of EA. Brighton Jones LLC grew its stake in shares of Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after acquiring an additional 294 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of Electronic Arts by 145.9% in the fourth quarter. Dark Forest Capital Management LP now owns 4,266 shares of the game software company's stock worth $624,000 after acquiring an additional 2,531 shares in the last quarter. MGO One Seven LLC grew its stake in shares of Electronic Arts by 22.0% in the fourth quarter. MGO One Seven LLC now owns 3,162 shares of the game software company's stock worth $463,000 after acquiring an additional 570 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Electronic Arts by 73.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,975 shares of the game software company's stock worth $1,459,000 after acquiring an additional 4,235 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Electronic Arts by 4.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,949 shares of the game software company's stock worth $432,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Buying and Selling

In other news, insider Vijayanthimala Singh sold 1,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider directly owned 37,131 shares of the company's stock, valued at approximately $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the sale, the insider directly owned 58,092 shares of the company's stock, valued at $9,032,725.08. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,200 shares of company stock valued at $4,142,660 over the last ninety days. Company insiders own 0.24% of the company's stock.

Electronic Arts Stock Performance

NASDAQ EA traded down $0.53 during trading hours on Tuesday, hitting $172.23. The company had a trading volume of 2,594,368 shares, compared to its average volume of 3,362,188. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The company has a market cap of $43.09 billion, a PE ratio of 43.17, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The business has a 50 day moving average of $159.28 and a 200-day moving average of $148.28.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's dividend payout ratio is currently 19.05%.

Analyst Ratings Changes

EA has been the subject of several recent analyst reports. TD Cowen lifted their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their target price on shares of Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Bank of America boosted 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. Arete Research set a $192.00 target price on shares of Electronic Arts in a research note on Tuesday, August 5th. Finally, Oppenheimer boosted their target price on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

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.