Norinchukin Bank The Acquires 6,012 Shares of Electronic Arts Inc. $EA

Key Points

• Norinchukin Bank increased its stake in Electronic Arts by 46.0% during Q1, owning a total of 19,077 shares valued at approximately $2.76 million.
• Electronic Arts announced a quarterly $0.19 dividend to be paid on September 17th, resulting in an annualized dividend yield of 0.4%.
• Analysts have raised their price targets for Electronic Arts, with investment firms setting a consensus target price of $167.12 and a moderate buy rating on the stock.

Norinchukin Bank The raised its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 46.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,077 shares of the game software company's stock after buying an additional 6,012 shares during the period. Norinchukin Bank The's holdings in Electronic Arts were worth $2,757,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EA. Nuveen LLC bought a new stake in shares of Electronic Arts in the 1st quarter valued at about $203,537,000. Goldman Sachs Group Inc. grew its position in shares of Electronic Arts by 62.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock valued at $470,197,000 after buying an additional 1,254,194 shares during the last quarter. ING Groep NV grew its position in shares of Electronic Arts by 3,477.8% in the 1st quarter. ING Groep NV now owns 1,163,747 shares of the game software company's stock valued at $168,185,000 after buying an additional 1,131,220 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Electronic Arts by 300.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,454,006 shares of the game software company's stock valued at $210,134,000 after buying an additional 1,090,769 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Electronic Arts by 689.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,238,496 shares of the game software company's stock valued at $178,987,000 after buying an additional 1,081,589 shares during the last quarter. Institutional investors own 90.23% of the company's stock.

Electronic Arts Stock Performance

Shares of NASDAQ:EA traded up $0.56 during midday trading on Wednesday, hitting $172.60. The company had a trading volume of 2,097,694 shares, compared to its average volume of 3,462,636. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $43.19 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.23 and a beta of 0.72. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90. The company has a fifty day moving average of $159.28 and a two-hundred day moving average of $148.28.

Electronic Arts Dividend Announcement

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

Insiders Place Their Bets

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was 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 in the company, valued at approximately $2,589,848.40. This represents a 6.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the completion of the sale, the insider owned 58,092 shares of the company's stock, valued at $9,032,725.08. The trade was a 4.13% 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 worth $4,142,660 in the last three months. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EA shares. Morgan Stanley upped their price target on Electronic Arts from $135.00 to $148.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Robert W. Baird boosted their price objective on Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Bank of America upped their price target on Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Moffett Nathanson reaffirmed a "neutral" rating and set a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, May 7th. Finally, DA Davidson upped their price target on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.12.

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.