Dai ichi Life Insurance Company Ltd Boosts Holdings in Electronic Arts Inc. (NASDAQ:EA)

Dai ichi Life Insurance Company Ltd lifted its stake in Electronic Arts Inc. (NASDAQ:EA) by 20.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,170 shares of the game software company’s stock after buying an additional 11,058 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Electronic Arts were worth $9,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EA. Ninety One UK Ltd raised its stake in shares of Electronic Arts by 1.3% during the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company’s stock worth $596,825,000 after buying an additional 53,237 shares during the period. Massachusetts Financial Services Co. MA raised its position in Electronic Arts by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company’s stock worth $583,162,000 after acquiring an additional 18,376 shares during the period. Legal & General Group Plc lifted its holdings in Electronic Arts by 2.1% during the second quarter. Legal & General Group Plc now owns 2,639,691 shares of the game software company’s stock valued at $367,789,000 after purchasing an additional 53,800 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Electronic Arts by 3.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,088,170 shares of the game software company’s stock valued at $290,945,000 after purchasing an additional 76,621 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Electronic Arts by 29.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,548,261 shares of the game software company’s stock worth $215,725,000 after buying an additional 354,005 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Down 1.5 %

EA stock opened at $164.14 on Tuesday. The company’s 50 day moving average price is $149.71 and its 200 day moving average price is $144.23. The firm has a market capitalization of $43.05 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 2.18 and a beta of 0.78. Electronic Arts Inc. has a fifty-two week low of $124.92 and a fifty-two week high of $168.50. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.19 dividend. 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 payout ratio is 19.54%.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 2,500 shares of Electronic Arts stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the sale, the chief executive officer now owns 54,247 shares in the company, valued at approximately $7,675,950.50. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vijayanthimala Singh sold 7,384 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,884 shares of company stock valued at $4,404,435. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

EA has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of Electronic Arts in a report on Friday, October 25th. StockNews.com raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Eight research 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.37.

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.