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

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Electronic Arts Inc. by 46.2%, selling 7,525 shares and now holding 8,779 shares worth approximately $1.27 million.
• Multiple institutional investors have increased their positions in Electronic Arts, with Vanguard Group Inc. owning over 29 million shares valued at approximately $4.2 billion as of the latest quarter.
• Electronic Arts is set to pay a quarterly dividend of $0.19 per share to shareholders on September 17th, with an annualized yield of 0.4% and a low payout ratio of 19.05%.

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 46.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,779 shares of the game software company's stock after selling 7,525 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Electronic Arts were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Andina Capital Management LLC bought a new stake in Electronic Arts during the 1st quarter worth approximately $513,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in Electronic Arts during the 1st quarter worth approximately $341,000. Financial Advisors Network Inc. bought a new stake in Electronic Arts during the 1st quarter worth approximately $2,311,000. Brooklyn Investment Group increased its holdings in Electronic Arts by 37.8% during the 1st quarter. Brooklyn Investment Group now owns 2,061 shares of the game software company's stock worth $298,000 after acquiring an additional 565 shares during the period. Finally, Freestone Capital Holdings LLC increased its holdings in Electronic Arts by 7.9% during the 1st quarter. Freestone Capital Holdings LLC now owns 9,632 shares of the game software company's stock worth $1,392,000 after acquiring an additional 708 shares during the period. Institutional investors own 90.23% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EA shares. Benchmark upped their target price on shares of Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. HSBC raised shares of Electronic Arts from a "hold" rating to a "buy" rating and set a $190.00 target price on the stock in a report on Wednesday, May 7th. Arete raised shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price on the stock in a report on Tuesday, August 5th. Robert W. Baird increased their price target on shares of Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, DA Davidson increased their price target on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $167.12.

Electronic Arts Trading Up 0.2%

Shares of Electronic Arts stock traded up $0.42 during trading on Tuesday, reaching $173.18. The company's stock had a trading volume of 874,958 shares, compared to its average volume of 3,465,033. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The company has a market cap of $43.33 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 2.21 and a beta of 0.72. The firm's 50-day moving average is $158.84 and its two-hundred day moving average is $148.12. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Electronic Arts Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total value of $171,060.00. Following the completion of the sale, the chief financial officer owned 15,140 shares of the company's stock, valued at approximately $2,589,848.40. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jacob J. Schatz sold 1,200 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $174.65, for a total transaction of $209,580.00. Following the completion of the sale, the executive vice president directly owned 27,248 shares of the company's stock, valued at $4,758,863.20. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,200 shares of company stock worth $4,142,660 in the last ninety days. 0.24% of the stock is currently owned by insiders.

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.