Dai ichi Life Insurance Company Ltd Cuts Stake in Electronic Arts Inc. (NASDAQ:EA)

Dai ichi Life Insurance Company Ltd decreased its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,258 shares of the game software company's stock after selling 6,202 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Electronic Arts were worth $8,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EA. Vanguard Group Inc. grew its position in shares of Electronic Arts by 16.3% during the 3rd quarter. Vanguard Group Inc. now owns 25,636,385 shares of the game software company's stock valued at $3,086,621,000 after acquiring an additional 3,600,388 shares during the period. Norges Bank bought a new position in shares of Electronic Arts during the 4th quarter valued at approximately $281,054,000. DNB Asset Management AS grew its position in shares of Electronic Arts by 82.3% during the 4th quarter. DNB Asset Management AS now owns 2,357,238 shares of the game software company's stock valued at $322,494,000 after acquiring an additional 1,064,022 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Electronic Arts by 480.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 499,277 shares of the game software company's stock valued at $60,113,000 after acquiring an additional 413,276 shares during the period. Finally, Morgan Stanley grew its position in shares of Electronic Arts by 13.0% during the 3rd quarter. Morgan Stanley now owns 3,389,395 shares of the game software company's stock valued at $408,084,000 after acquiring an additional 389,063 shares during the period. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Trading Up 4.9 %

Electronic Arts stock traded up $6.29 during trading hours on Wednesday, reaching $135.14. The stock had a trading volume of 5,366,169 shares, compared to its average volume of 2,075,503. The company has a fifty day simple moving average of $129.57 and a 200-day simple moving average of $134.67. The stock has a market cap of $36.13 billion, a PE ratio of 27.53, a PEG ratio of 2.04 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 1.33. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, May 29th. Electronic Arts's payout ratio is 16.24%.

Analyst Ratings Changes

A number of analysts recently commented on EA shares. UBS Group dropped their price target on shares of Electronic Arts from $146.00 to $143.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 27th. Benchmark restated a "buy" rating and set a $153.00 price target on shares of Electronic Arts in a research note on Thursday, April 18th. Oppenheimer restated an "outperform" rating and set a $150.00 price target on shares of Electronic Arts in a research note on Tuesday, April 23rd. StockNews.com cut shares of Electronic Arts from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 9th. Finally, Wedbush reiterated an "outperform" rating and issued a $162.00 target price on shares of Electronic Arts in a research note on Wednesday, May 8th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

Insider Activity

In related news, Director Jeff Huber sold 11,872 shares of Electronic Arts stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $141.90, for a total transaction of $1,684,636.80. Following the completion of the transaction, the director now directly owns 79,381 shares of the company's stock, valued at approximately $11,264,163.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Jeff Huber sold 11,872 shares of Electronic Arts stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $141.90, for a total transaction of $1,684,636.80. Following the completion of the transaction, the director now directly owns 79,381 shares of the company's stock, valued at approximately $11,264,163.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $142.39, for a total transaction of $355,975.00. Following the transaction, the chief executive officer now directly owns 28,430 shares of the company's stock, valued at $4,048,147.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,772 shares of company stock valued at $4,193,979. Corporate insiders own 0.20% of the company's stock.

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.