Dai ichi Life Insurance Company Ltd Has $7.31 Million Position in Electronic Arts Inc. $EA

Dai ichi Life Insurance Company Ltd lessened its position in Electronic Arts Inc. (NASDAQ:EA) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,856 shares of the game software company’s stock after selling 3,215 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Electronic Arts were worth $7,310,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Gabelli Funds LLC boosted its position in shares of Electronic Arts by 19.5% during the first quarter. Gabelli Funds LLC now owns 171,950 shares of the game software company’s stock worth $35,055,000 after purchasing an additional 28,050 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Electronic Arts by 9.2% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 137,950 shares of the game software company’s stock valued at $28,124,000 after buying an additional 11,650 shares during the period. Compound Planning Inc. increased its position in shares of Electronic Arts by 8.1% in the 1st quarter. Compound Planning Inc. now owns 3,671 shares of the game software company’s stock valued at $748,000 after buying an additional 274 shares in the last quarter. Modern Wealth Management LLC increased its position in shares of Electronic Arts by 14.1% in the 1st quarter. Modern Wealth Management LLC now owns 2,845 shares of the game software company’s stock valued at $579,000 after buying an additional 352 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Electronic Arts during the 1st quarter worth $21,635,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Trading Up 0.0%

EA opened at $209.08 on Friday. The stock has a market capitalization of $52.43 billion, a P/E ratio of 59.91, a P/E/G ratio of 2.34 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 $209.34. The firm’s fifty day simple moving average is $204.25 and its 200 day simple moving average is $202.80.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s payout ratio is 21.78%.

Insider Buying and Selling

In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total value of $302,040.00. Following the completion of the sale, the chief financial officer owned 25,991 shares in the company, valued at $5,233,547.76. The trade was 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. Over the last quarter, insiders sold 31,206 shares of company stock valued at $6,292,058. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Citigroup lifted their price objective on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Finally, Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $196.64.

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.