The Manufacturers Life Insurance Company Sells 5,026 Shares of Electronic Arts Inc. (NASDAQ:EA)

The Manufacturers Life Insurance Company reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 155,249 shares of the game software company’s stock after selling 5,026 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Electronic Arts worth $22,269,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Electronic Arts in the 3rd quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Electronic Arts in the second quarter valued at approximately $28,000. Family Firm Inc. purchased a new stake in shares of Electronic Arts during the 2nd quarter valued at approximately $33,000. Reston Wealth Management LLC bought a new position in Electronic Arts in the 3rd quarter worth approximately $36,000. Finally, Gradient Investments LLC grew its stake in Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Robert W. Baird increased their target price on Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley restated an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. Benchmark reiterated a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. Finally, BNP Paribas raised shares of Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $146.58, for a total value of $219,870.00. Following the completion of the sale, the executive vice president now owns 26,360 shares in the company, valued at approximately $3,863,848.80. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the sale, the insider now owns 30,190 shares in the company, valued at approximately $4,579,823. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,000 shares of company stock worth $3,073,520. Company insiders own 0.22% of the company’s stock.

Electronic Arts Trading Up 0.3 %

Shares of EA opened at $163.67 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. Electronic Arts Inc. has a fifty-two week low of $124.92 and a fifty-two week high of $168.50. The firm has a 50 day moving average price of $151.54 and a 200-day moving average price of $145.01. The firm has a market cap of $42.93 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 2.13 and a beta of 0.78.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.46%. Electronic Arts’s dividend payout ratio (DPR) is currently 19.54%.

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.