Allstate Corp raised its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 105.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,448 shares of the game software company's stock after acquiring an additional 9,485 shares during the period. Allstate Corp's holdings in Electronic Arts were worth $3,769,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. boosted its holdings in shares of Electronic Arts by 100.0% during the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company's stock worth $28,000 after acquiring an additional 69 shares during the period. Oakworth Capital Inc. bought a new stake in shares of Electronic Arts in the third quarter valued at approximately $30,000. Salomon & Ludwin LLC boosted its stake in shares of Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company's stock valued at $47,000 after buying an additional 57 shares during the period. Tidemark LLC bought a new stake in shares of Electronic Arts in the third quarter valued at approximately $50,000. Finally, Asset Dedication LLC boosted its stake in shares of Electronic Arts by 333.3% in the third quarter. Asset Dedication LLC now owns 260 shares of the game software company's stock valued at $52,000 after buying an additional 200 shares during the period. Institutional investors own 90.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on EA. UBS Group reiterated a "neutral" rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Citigroup boosted their price target on Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $196.64.
Get Our Latest Stock Report on Electronic Arts
Electronic Arts Stock Down 0.2%
Shares of EA opened at $200.68 on Thursday. Electronic Arts Inc. has a one year low of $141.19 and a one year high of $204.88. The company has a market cap of $50.32 billion, a P/E ratio of 57.50, a P/E/G ratio of 2.22 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $202.03 and a two-hundred day simple moving average of $202.25.
Electronic Arts Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts's payout ratio is currently 21.78%.
Insider Activity
In other news, CEO Andrew Wilson sold 5,066 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the transaction, the chief executive officer directly owned 85,974 shares in the company, valued at approximately $17,337,516.84. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the transaction, the chief financial officer owned 25,991 shares of the company's stock, valued at $5,233,547.76. This trade represents a 5.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 39,906 shares of company stock valued at $8,032,336 in the last three months. Company insiders own 0.24% of the company's stock.
About Electronic Arts
(
Free Report)
Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.
EA's product lineup spans several well-known franchises and genres.
Further Reading
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