iA Global Asset Management Inc. Has $12.09 Million Stock Position in Electronic Arts Inc. $EA

Key Points

• iA Global Asset Management increased its stake in Electronic Arts by 90.8% in the first quarter, ending with 59,321 shares valued at about $12.1 million.
• Institutional ownership remains very high, with hedge funds and asset managers holding about 90.23% of EA’s stock. Several other firms also boosted or initiated large positions recently.
• EA shares were essentially flat around $205, near their 52-week high, while the company pays a quarterly dividend of $0.19 per share and has a consensus analyst rating of Hold.

iA Global Asset Management Inc. raised its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 90.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,321 shares of the game software company's stock after buying an additional 28,227 shares during the quarter. iA Global Asset Management Inc.'s holdings in Electronic Arts were worth $12,094,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EA. Pentwater Capital Management LP boosted its stake in Electronic Arts by 128.1% in the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company's stock worth $2,237,414,000 after purchasing an additional 6,150,000 shares during the period. Norges Bank bought a new position in Electronic Arts during the 4th quarter worth about $643,674,000. HBK Investments L P acquired a new stake in shares of Electronic Arts in the 4th quarter valued at about $390,267,000. Ameriprise Financial Inc. raised its stake in shares of Electronic Arts by 44.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company's stock valued at $673,393,000 after purchasing an additional 1,300,336 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in shares of Electronic Arts in the fourth quarter valued at about $165,153,000. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Trading Down 0.0%

Shares of NASDAQ:EA opened at $205.04 on Wednesday. The company's 50-day moving average price is $202.32 and its two-hundred day moving average price is $202.43. Electronic Arts Inc. has a one year low of $146.97 and a one year high of $205.69. 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 stock has a market capitalization of $51.41 billion, a PE ratio of 58.75, a price-to-earnings-growth ratio of 2.31 and a beta of 0.65.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were 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 was Wednesday, May 27th. Electronic Arts's dividend payout ratio is presently 21.78%.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,066 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the sale, the chief executive officer owned 85,974 shares in the company, valued at $17,337,516.84. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $203.21, for a total value of $508,025.00. Following the completion of the sale, the insider directly owned 43,343 shares of the company's stock, valued at approximately $8,807,731.03. The trade was a 5.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 39,906 shares of company stock valued at $8,060,033. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Argus cut Electronic Arts from a "buy" rating to a "hold" rating in a research report on Thursday, May 28th. Weiss Ratings upgraded Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 18th. Wall Street Zen upgraded Electronic Arts to a "hold" rating in a research note on Saturday, June 6th. Finally, Citigroup upped their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Electronic Arts presently has an average rating of "Hold" and a consensus price target of $196.64.

About Electronic Arts

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.

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