United Services Automobile Association Takes $778,000 Position in Electronic Arts Inc. $EA

Key Points

• United Services Automobile Association acquired 5,392 shares of Electronic Arts Inc. ($EA) valued at approximately $778,000 during the 1st quarter, reflecting increased interest from institutional investors.
• Insiders have sold a total of 29,900 shares of Electronic Arts in the last 90 days, indicating decreased positions among company executives.
• The company recently declared a $0.19 quarterly dividend, with a 0.5% yield and a payout ratio of 19.05%, highlighting its commitment to returning value to shareholders.

United Services Automobile Association acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,392 shares of the game software company's stock, valued at approximately $778,000.

Several other institutional investors have also modified their holdings of EA. Ameriprise Financial Inc. increased its holdings in shares of Electronic Arts by 197.5% in 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 acquiring an additional 1,936,313 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Electronic Arts in the 1st quarter valued at $225,102,000. Nuveen LLC acquired a new position in shares of Electronic Arts in the 1st quarter valued at $203,537,000. Goldman Sachs Group Inc. increased 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 acquiring an additional 1,254,194 shares during the period. Finally, ING Groep NV increased 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 acquiring an additional 1,131,220 shares during the period. Hedge funds and other institutional investors own 90.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group set a $167.00 target price on shares of Electronic Arts and gave the company a "neutral" rating in a report on Friday, August 1st. Wells Fargo & Company set a $168.00 target price on shares of Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Robert W. Baird lifted their target price on shares of Electronic Arts from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. DA Davidson lifted their target price on shares of Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Finally, Bank of America lifted their target price on shares of Electronic Arts from $166.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $167.12.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $171.69, for a total value of $429,225.00. Following the transaction, the insider directly owned 55,592 shares in the company, valued at approximately $9,544,590.48. This represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $171.06, for a total transaction of $171,060.00. Following the completion of the transaction, the chief financial officer owned 15,140 shares in the company, valued at approximately $2,589,848.40. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,900 shares of company stock worth $4,778,597 in the last 90 days. Insiders own 0.24% of the company's stock.

Electronic Arts Price Performance

Shares of NASDAQ:EA traded down $0.38 on Thursday, reaching $169.89. 2,410,758 shares of the company were exchanged, compared to its average volume of 2,374,967. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $180.90. The firm has a market cap of $42.51 billion, a price-to-earnings ratio of 42.58, a price-to-earnings-growth ratio of 2.20 and a beta of 0.75. The company has a 50-day moving average of $162.64 and a 200-day moving average of $151.40.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio is presently 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.