Assenagon Asset Management S.A. Sells 1,027,281 Shares of Electronic Arts Inc. $EA

Key Points

• Assenagon Asset Management S.A. significantly cut its position in Electronic Arts by 82.9%, owning only 211,215 shares after selling over 1 million shares in the second quarter.
• Other investors have also adjusted their holdings, with institutions currently owning 90.23% of Electronic Arts' stock.
• Electronic Arts recently announced a quarterly dividend of $0.19, raising its annualized dividend yield to 0.4% with a payout ratio of 19.05%.

Assenagon Asset Management S.A. trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 82.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,215 shares of the game software company's stock after selling 1,027,281 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of Electronic Arts worth $33,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EA. Focus Partners Advisor Solutions LLC purchased a new stake in Electronic Arts in the 1st quarter worth $319,000. CCM Investment Group LLC purchased a new stake in Electronic Arts in the 1st quarter worth $1,625,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Electronic Arts by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after purchasing an additional 13,461 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in Electronic Arts by 5.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 105,892 shares of the game software company's stock worth $15,300,000 after purchasing an additional 5,275 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Electronic Arts by 4.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,571 shares of the game software company's stock worth $23,495,000 after purchasing an additional 6,835 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EA. Arete Research set a $192.00 price objective on Electronic Arts in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Wedbush restated an "outperform" rating and set a $210.00 price objective on shares of Electronic Arts in a research report on Monday, August 25th. DA Davidson raised their price objective on Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Finally, Wall Street Zen lowered Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $167.40.

Electronic Arts Stock Up 0.2%

Shares of NASDAQ EA traded up $0.33 during trading on Monday, reaching $173.42. 2,838,434 shares of the stock were exchanged, compared to its average volume of 2,549,019. The business's 50-day moving average price is $165.57 and its 200 day moving average price is $153.62. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90. 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 company has a market capitalization of $43.39 billion, a price-to-earnings ratio of 43.46, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were issued a $0.19 dividend. 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 dividend payout ratio is currently 19.05%.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $171.05, for a total transaction of $855,250.00. Following the sale, the chief executive officer directly owned 52,393 shares of the company's stock, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $171.69, for a total transaction of $429,225.00. Following the sale, the insider directly owned 55,592 shares in the company, valued at $9,544,590.48. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,800 shares of company stock valued at $4,214,010 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts 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.