Public Sector Pension Investment Board Has $21.02 Million Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Key Points

• The Public Sector Pension Investment Board increased its stake in Electronic Arts by 339.7% in the first quarter, now owning a total of 145,458 shares valued at approximately $21 million.
• Electronic Arts announced a quarterly dividend of $0.19 per share, with the payment scheduled for September 17th, representing an annualized yield of 0.4%.
• Research firms have upgraded Electronic Arts, with several raising their price targets, including a new target of $185 by Roth Capital, reflecting Wall Street's increasing confidence in the company's growth potential.

Public Sector Pension Investment Board boosted its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 339.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,458 shares of the game software company's stock after buying an additional 112,380 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.06% of Electronic Arts worth $21,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Electronic Arts by 9.4% in the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after acquiring an additional 294 shares during the period. Cerity Partners LLC raised its holdings in shares of Electronic Arts by 1.0% during the fourth quarter. Cerity Partners LLC now owns 29,460 shares of the game software company's stock valued at $4,283,000 after buying an additional 283 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Electronic Arts during the fourth quarter worth approximately $34,334,000. LSV Asset Management bought a new position in Electronic Arts in the 4th quarter worth approximately $8,725,000. Finally, Sterling Capital Management LLC increased its position in Electronic Arts by 53.1% in the 4th quarter. Sterling Capital Management LLC now owns 15,720 shares of the game software company's stock valued at $2,300,000 after acquiring an additional 5,453 shares during the period. 90.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EA shares. DA Davidson upped their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Arete upgraded Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price for the company in a research report on Tuesday, August 5th. Wall Street Zen downgraded Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Benchmark upped their target price on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, UBS Group set a $167.00 target price on Electronic Arts and gave the stock a "neutral" rating in a research report on Friday, August 1st. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Electronic Arts has a consensus rating of "Moderate Buy" and a consensus price target of $167.12.

Electronic Arts Price Performance

Shares of EA traded down $4.34 on Friday, hitting $174.67. The company's stock had a trading volume of 3,428,521 shares, compared to its average volume of 3,477,202. The company has a market capitalization of $43.70 billion, a PE ratio of 43.78, a PEG ratio of 2.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. Electronic Arts Inc. has a fifty-two week low of $115.21 and a fifty-two week high of $180.90. The company has a 50 day moving average price of $156.13 and a 200 day moving average price of $145.84.

Electronic Arts Dividend Announcement

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

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $151.32, for a total transaction of $151,320.00. Following the completion of the sale, the chief financial officer owned 14,533 shares in the company, valued at approximately $2,199,133.56. The trade was a 6.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $148.32, for a total transaction of $222,480.00. Following the sale, the executive vice president owned 28,448 shares of the company's stock, valued at $4,219,407.36. The trade was a 5.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,229 shares of company stock worth $4,452,664. 0.24% of the stock is owned by company 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.