Dai ichi Life Insurance Company Ltd Sells 3,215 Shares of Electronic Arts Inc. $EA

Dai ichi Life Insurance Company Ltd reduced its holdings in Electronic Arts Inc. (NASDAQ:EA) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. increased its position in shares of Electronic Arts by 12.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock worth $22,185,000 after purchasing an additional 12,095 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Electronic Arts by 9.2% in the 4th 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 last quarter. Swiss National Bank boosted its holdings in shares of Electronic Arts by 8.0% in the 1st quarter. Swiss National Bank now owns 704,400 shares of the game software company’s stock valued at $143,606,000 after buying an additional 51,900 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Electronic Arts in the fourth quarter valued at $8,745,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Electronic Arts by 500.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,805 shares of the game software company’s stock valued at $9,768,000 after buying an additional 39,841 shares in the last quarter. 90.23% of the stock is owned by institutional investors.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,066 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $201.66, for a total value of $1,021,609.56. Following the transaction, the chief executive officer directly owned 85,974 shares of the company’s stock, valued at $17,337,516.84. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction 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 represents a 3.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, 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

Several analysts have issued reports on EA shares. Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Citigroup lifted 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. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Finally, Zacks Research downgraded shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned 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 Stock Up 0.0%

EA stock opened at $209.08 on Friday. Electronic Arts Inc. has a 1-year low of $146.97 and a 1-year high of $209.34. The business’s 50 day simple moving average is $204.25 and its 200 day simple moving average is $202.80. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $52.43 billion, a PE ratio of 59.91, a PEG ratio of 2.34 and a beta of 0.64.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s 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.