Panagora Asset Management Inc. Trims Position in Electronic Arts Inc. $EA

Key Points

• Panagora Asset Management Inc. reduced its holdings in Electronic Arts Inc. by 96.7%, selling 449,028 shares during the first quarter, leaving them with just 15,284 shares valued at approximately $2.2 million.
• Multiple analysts raised their price targets for Electronic Arts, with estimates now ranging from $170 to $185, while the company maintains a consensus rating of "Moderate Buy".
• Electronic Arts recently announced a quarterly dividend of $0.19 per share to be paid on September 17th, representing an annualized dividend yield of 0.4% and a payout ratio of 19.05%.

Panagora Asset Management Inc. decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 96.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,284 shares of the game software company's stock after selling 449,028 shares during the period. Panagora Asset Management Inc.'s holdings in Electronic Arts were worth $2,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EA. Ameriprise Financial Inc. lifted its position in Electronic Arts by 197.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock valued at $421,524,000 after purchasing an additional 1,936,313 shares during the period. Nuveen LLC acquired a new position in Electronic Arts during the 1st quarter worth approximately $203,537,000. Goldman Sachs Group Inc. boosted its holdings 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 boosted its holdings 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. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Electronic Arts by 300.3% during 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 purchasing an additional 1,090,769 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the transaction, the chief executive officer directly owned 52,393 shares in the company, valued at $8,961,822.65. This trade represents a 8.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $148.69, for a total value of $223,035.00. Following the completion of the transaction, the executive vice president owned 29,948 shares in the company, valued at approximately $4,452,968.12. This represents a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,900 shares of company stock valued at $4,778,597 in the last 90 days. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on EA. UBS Group set a $167.00 target price on Electronic Arts and gave the stock a "neutral" rating in a report on Friday, August 1st. Robert W. Baird lifted their target price on Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Arete raised Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price for the company in a report on Tuesday, August 5th. Wells Fargo & Company set a $168.00 target price on Electronic Arts and gave the stock an "equal weight" rating in a report on Monday, July 28th. Finally, Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and boosted their price target for the company from $175.00 to $185.00 in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Electronic Arts has an average rating of "Moderate Buy" and an average price target of $167.12.

Electronic Arts Trading Up 0.4%

Shares of Electronic Arts stock traded up $0.59 on Friday, hitting $168.62. The stock had a trading volume of 2,205,511 shares, compared to its average volume of 2,839,614. The firm has a market capitalization of $42.19 billion, a P/E ratio of 42.26, a PEG ratio of 2.18 and a beta of 0.75. The stock has a 50 day moving average of $161.78 and a 200 day moving average of $150.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is currently 19.05%.

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.