BI Asset Management Fondsmaeglerselskab A S Cuts Position in Electronic Arts Inc. $EA

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Electronic Arts position by 89.1% in the fourth quarter, selling 99,451 shares and leaving it with 12,189 shares worth about $2.49 million.
• Several other institutional investors adjusted their EA holdings, and institutions now own 90.23% of the company’s stock, highlighting strong overall institutional interest.
• EA recently declared a quarterly dividend of $0.19 per share, while analysts are mostly cautious: the stock’s consensus rating is “Hold” with an average price target of $196.64.

BI Asset Management Fondsmaeglerselskab A S decreased its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 89.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,189 shares of the game software company's stock after selling 99,451 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Electronic Arts were worth $2,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EA. Brighton Jones LLC raised its holdings in Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after acquiring an additional 294 shares during the period. Empowered Funds LLC grew its position in Electronic Arts by 167.0% in the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company's stock worth $2,790,000 after acquiring an additional 12,076 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Electronic Arts by 150.8% in the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock worth $46,000 after acquiring an additional 190 shares in the last quarter. Jump Financial LLC purchased a new stake in Electronic Arts during the second quarter valued at about $2,323,000. Finally, NewEdge Advisors LLC boosted its position in Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company's stock valued at $490,000 after buying an additional 1,505 shares during the period. Institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $203.20 on Tuesday. The firm's fifty day moving average is $202.23 and its two-hundred day moving average is $202.31. Electronic Arts Inc. has a 52-week low of $145.54 and a 52-week high of $204.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $50.95 billion, a P/E ratio of 58.22, a P/E/G ratio of 2.24 and a beta of 0.65.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's payout ratio is 21.78%.

Analysts Set New Price Targets

EA has been the subject of a number of research reports. Argus downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Citigroup upped their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Electronic Arts to a "hold" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Electronic Arts currently has an average rating of "Hold" and a consensus price target of $196.64.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $200.54, for a total value of $501,350.00. Following the sale, the insider directly owned 40,843 shares in the company, valued at $8,190,655.22. The trade was a 5.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction dated 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 directly owned 25,991 shares of the company's stock, valued at approximately $5,233,547.76. This 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. Over the last 90 days, insiders sold 39,906 shares of company stock worth $8,032,336. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.