Principal Financial Group Inc. Sells 8,623 Shares of Electronic Arts Inc. (NASDAQ:EA)

Principal Financial Group Inc. lessened its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 313,217 shares of the game software company's stock after selling 8,623 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Electronic Arts worth $45,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EA. Putney Financial Group LLC purchased a new stake in Electronic Arts during the 4th quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Electronic Arts during the 1st quarter worth about $28,000. LGT Financial Advisors LLC purchased a new stake in Electronic Arts during the 4th quarter worth about $33,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts during the 4th quarter worth about $37,000. Finally, American National Bank & Trust purchased a new stake in Electronic Arts during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 90.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EA shares. Benchmark upped their target price on Electronic Arts from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Roth Capital raised Electronic Arts from a "neutral" rating to a "buy" rating and upped their target price for the company from $175.00 to $185.00 in a research report on Tuesday, June 24th. Moffett Nathanson reaffirmed a "neutral" rating and set a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and set a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Finally, Morgan Stanley increased their price objective on Electronic Arts from $135.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Electronic Arts presently has a consensus rating of "Moderate Buy" and an average price target of $162.80.

Electronic Arts Price Performance

NASDAQ:EA traded down $1.38 during midday trading on Thursday, hitting $151.30. 1,601,356 shares of the stock were exchanged, compared to its average volume of 2,815,448. Electronic Arts Inc. has a one year low of $115.21 and a one year high of $168.50. The company has a market capitalization of $38.02 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 2.07 and a beta of 0.73. The business has a 50-day moving average price of $151.06 and a two-hundred day moving average price of $142.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.50%. Electronic Arts's dividend payout ratio is 17.92%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total transaction of $159,530.00. Following the transaction, the insider directly owned 37,131 shares of the company's stock, valued at $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $223,035.00. Following the transaction, the executive vice president directly owned 29,948 shares in the company, valued at $4,452,968.12. The trade was a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,729 shares of company stock valued at $4,784,679 in the last quarter. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Company 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.