iA Global Asset Management Inc. Increases Holdings in Electronic Arts Inc. (NASDAQ:EA)

iA Global Asset Management Inc. increased its stake in Electronic Arts Inc. (NASDAQ:EA) by 24.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,603 shares of the game software company’s stock after purchasing an additional 8,681 shares during the quarter. iA Global Asset Management Inc.’s holdings in Electronic Arts were worth $5,917,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in Electronic Arts by 12.8% during the first quarter. Comerica Bank now owns 51,562 shares of the game software company’s stock valued at $6,841,000 after buying an additional 5,849 shares during the period. Hancock Whitney Corp boosted its stake in Electronic Arts by 32.0% during the first quarter. Hancock Whitney Corp now owns 8,387 shares of the game software company’s stock valued at $1,113,000 after buying an additional 2,035 shares during the period. Tidal Investments LLC boosted its stake in Electronic Arts by 27.2% during the first quarter. Tidal Investments LLC now owns 42,095 shares of the game software company’s stock valued at $5,584,000 after buying an additional 8,993 shares during the period. Motley Fool Asset Management LLC boosted its stake in Electronic Arts by 11.8% during the first quarter. Motley Fool Asset Management LLC now owns 8,988 shares of the game software company’s stock valued at $1,192,000 after buying an additional 948 shares during the period. Finally, Redwood Investment Management LLC boosted its stake in Electronic Arts by 10.5% during the first quarter. Redwood Investment Management LLC now owns 11,378 shares of the game software company’s stock valued at $1,510,000 after buying an additional 1,085 shares during the period. Institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EA shares. Jefferies Financial Group started coverage on Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 price target for the company. Morgan Stanley lifted their price target on Electronic Arts from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Robert W. Baird boosted their target price on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group boosted their target price on Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.95.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $132.88, for a total transaction of $106,304.00. Following the sale, the insider now directly owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $132.88, for a total value of $106,304.00. Following the sale, the insider now directly owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stuart Canfield sold 3,000 shares of Electronic Arts stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the chief financial officer now directly owns 7,553 shares in the company, valued at $1,095,185. The disclosure for this sale can be found here. Insiders have sold a total of 23,239 shares of company stock valued at $3,197,469 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

Electronic Arts Stock Down 1.7 %

EA stock traded down $2.54 during midday trading on Thursday, hitting $148.40. The company’s stock had a trading volume of 2,729,938 shares, compared to its average volume of 2,182,343. The company has a market cap of $39.43 billion, a PE ratio of 32.25, a P/E/G ratio of 2.34 and a beta of 0.79. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $153.51. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average is $139.61 and its 200-day moving average is $135.82.

Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.17). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.26%. On average, equities research analysts forecast that Electronic Arts Inc. will post 5.76 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. Electronic Arts’s dividend payout ratio is presently 16.24%.

Electronic Arts Company 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.