Illinois Municipal Retirement Fund Reduces Position in Electronic Arts Inc. $EA

Illinois Municipal Retirement Fund decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,015 shares of the game software company’s stock after selling 5,599 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Electronic Arts were worth $32,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Optas LLC lifted its stake in shares of Electronic Arts by 4.2% during the 1st quarter. Optas LLC now owns 1,332 shares of the game software company’s stock worth $272,000 after acquiring an additional 54 shares during the last quarter. Salomon & Ludwin LLC grew its position in Electronic Arts by 32.8% in the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Macroview Investment Management LLC increased its stake in Electronic Arts by 6.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock worth $218,000 after purchasing an additional 62 shares during the period. Candriam S.C.A. increased its stake in Electronic Arts by 0.3% in the first quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock worth $5,033,000 after purchasing an additional 65 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in shares of Electronic Arts by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 931 shares of the game software company’s stock worth $190,000 after purchasing an additional 69 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EA. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup boosted their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $196.64.

Insider Activity at Electronic Arts

In other news, CEO Andrew Wilson sold 5,066 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the sale, the chief executive officer owned 85,974 shares in the company, valued at approximately $17,337,516.84. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.10, for a total value of $507,750.00. Following the sale, the insider owned 73,513 shares in the company, valued at $14,930,490.30. The trade was a 3.29% 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. Insiders sold a total of 31,206 shares of company stock worth $6,292,058 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA stock opened at $207.27 on Thursday. The business’s fifty day simple moving average is $203.07 and its 200-day simple moving average is $202.57. The company has a market cap of $51.97 billion, a PE ratio of 59.39, a PEG ratio of 2.32 and a beta of 0.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 12-month low of $146.97 and a 12-month high of $207.77.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s payout ratio is 21.78%.

Electronic Arts Company Profile

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.