Vestcor Inc Has $27.23 Million Stock Position in Electronic Arts Inc. $EA

Vestcor Inc lifted its position in Electronic Arts Inc. (NASDAQ:EA) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,281 shares of the game software company’s stock after buying an additional 20,613 shares during the quarter. Electronic Arts comprises approximately 0.8% of Vestcor Inc’s holdings, making the stock its 17th largest position. Vestcor Inc owned 0.05% of Electronic Arts worth $27,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. OPTIMAS CAPITAL Ltd acquired a new position in shares of Electronic Arts during the third quarter worth $1,815,000. Greenland Capital Management LP acquired a new position in shares of Electronic Arts during the third quarter worth $5,569,000. Swiss Life Asset Management Ltd lifted its holdings in shares of Electronic Arts by 75.8% during the third quarter. Swiss Life Asset Management Ltd now owns 85,245 shares of the game software company’s stock worth $17,194,000 after purchasing an additional 36,769 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Electronic Arts by 9.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 110,851 shares of the game software company’s stock valued at $22,650,000 after buying an additional 9,297 shares during the period. Finally, Barometer Capital Management Inc. acquired a new position in Electronic Arts in the third quarter valued at $4,503,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $199.95, for a total transaction of $499,875.00. Following the transaction, the insider owned 45,843 shares in the company, valued at approximately $9,166,307.85. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the transaction, the chief financial officer owned 25,991 shares in the company, valued at $5,233,547.76. This represents a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 39,906 shares of company stock worth $8,032,336 over the last three months. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EA has been the subject of a number of recent analyst reports. Citigroup increased their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $196.64.

Electronic Arts Stock Down 0.2%

Shares of NASDAQ:EA opened at $203.00 on Friday. The company has a market capitalization of $50.90 billion, a price-to-earnings ratio of 58.17, a P/E/G ratio of 2.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50-day moving average is $202.21 and its 200-day moving average is $202.29. Electronic Arts Inc. has a 1 year low of $145.54 and a 1 year high of $204.88.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 21.78%.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.