Electronic Arts Inc. (NASDAQ:EA) Stake Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 321,237 shares of the game software company’s stock after selling 1,548 shares during the period. Principal Financial Group Inc. owned about 0.12% of Electronic Arts worth $46,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Inspire Trust Co. N.A. lifted its position in shares of Electronic Arts by 47.4% in the third quarter. Inspire Trust Co. N.A. now owns 14,000 shares of the game software company’s stock worth $2,008,000 after purchasing an additional 4,499 shares in the last quarter. Franklin Resources Inc. increased its stake in Electronic Arts by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 863,899 shares of the game software company’s stock valued at $124,548,000 after buying an additional 66,797 shares during the period. Tidal Investments LLC increased its stake in Electronic Arts by 20.6% in the 3rd quarter. Tidal Investments LLC now owns 45,630 shares of the game software company’s stock valued at $6,545,000 after buying an additional 7,786 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Electronic Arts in the 3rd quarter worth approximately $428,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Electronic Arts by 76.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,328 shares of the game software company’s stock valued at $1,481,000 after acquiring an additional 4,471 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EA has been the subject of a number of research reports. UBS Group lifted their price objective on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, October 30th. Roth Mkm lifted their target price on shares of Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley restated an “equal weight” rating and set a $150.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. Finally, BMO Capital Markets restated an “outperform” rating and set a $160.00 price target (up previously from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and an average price target of $165.37.

Electronic Arts Stock Down 0.1 %

Shares of EA opened at $147.80 on Monday. Electronic Arts Inc. has a 52 week low of $124.92 and a 52 week high of $168.50. The firm has a market capitalization of $38.76 billion, a P/E ratio of 37.99, a P/E/G ratio of 2.14 and a beta of 0.79. The company has a 50-day simple moving average of $156.85 and a 200-day simple moving average of $148.12. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, November 27th. Electronic Arts’s payout ratio is presently 19.54%.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $143.24, for a total value of $143,240.00. Following the sale, the insider now owns 29,190 shares of the company’s stock, valued at $4,181,175.60. The trade was a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total value of $832,350.00. Following the transaction, the chief executive officer now owns 52,615 shares of the company’s stock, valued at $8,758,819.05. This represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,000 shares of company stock worth $3,840,805. Company insiders own 0.22% 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.