Ameriprise Financial Inc. Has $421.52 Million Stake in Electronic Arts Inc. $EA

Key Points

• Ameriprise Financial Inc. significantly increased its holdings in Electronic Arts Inc. by 197.5%, owning 2,916,693 shares worth approximately $421.5 million as of the latest filing.
• Electronic Arts announced a quarterly dividend of $0.19, set to be paid on September 17th, with a current dividend yield of 0.4% and a payout ratio of 19.05%.
• Analysts have shown strong optimism for Electronic Arts, with several brokerages upgrading their ratings and increasing price targets, indicating a consensus target price of $167.12.

Ameriprise Financial Inc. raised its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 197.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,916,693 shares of the game software company's stock after buying an additional 1,936,313 shares during the period. Ameriprise Financial Inc. owned about 1.12% of Electronic Arts worth $421,524,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Putney Financial Group LLC bought a new position in shares of Electronic Arts in the 4th quarter worth $26,000. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts in the 1st quarter worth $28,000. Bank of Jackson Hole Trust boosted its position in shares of Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after purchasing an additional 75 shares during the last quarter. LGT Financial Advisors LLC bought a new position in shares of Electronic Arts in the 4th quarter worth $33,000. Finally, Wayfinding Financial LLC bought a new position in shares of Electronic Arts in the 1st quarter worth $39,000. 90.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider owned 58,092 shares in the company, valued at approximately $9,032,725.08. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stuart Canfield sold 1,000 shares of Electronic Arts stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total value of $171,060.00. Following the transaction, the chief financial officer owned 15,140 shares of the company's stock, valued at $2,589,848.40. The trade was a 6.20% decrease in their position. 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 in the last ninety days. Insiders own 0.24% of the company's stock.

Electronic Arts Stock Up 0.5%

EA traded up $0.89 on Wednesday, hitting $172.93. 693,999 shares of the company were exchanged, compared to its average volume of 3,458,876. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $180.90. The company has a market cap of $43.27 billion, a PE ratio of 43.27, a PEG ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The stock's fifty day moving average is $159.28 and its 200-day moving average is $148.28.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be issued 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, August 27th. Electronic Arts's dividend payout ratio is presently 19.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Moffett Nathanson restated a "neutral" rating and issued a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, May 7th. Argus set a $170.00 price target on Electronic Arts in a research report on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and set a $210.00 price objective on shares of Electronic Arts in a research note on Monday. HSBC raised Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Electronic Arts from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

About Electronic Arts

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.