The Manufacturers Life Insurance Company Lowers Position in Electronic Arts Inc. (NASDAQ:EA)

The Manufacturers Life Insurance Company decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 155,249 shares of the game software company’s stock after selling 5,026 shares during the period. The Manufacturers Life Insurance Company’s holdings in Electronic Arts were worth $22,269,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Electronic Arts in the 3rd quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts during the second quarter valued at approximately $28,000. Family Firm Inc. purchased a new position in shares of Electronic Arts during the second quarter valued at approximately $33,000. Reston Wealth Management LLC purchased a new position in shares of Electronic Arts during the third quarter valued at approximately $36,000. Finally, Gradient Investments LLC boosted its position in shares of Electronic Arts by 592.1% in the 2nd quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $146.58, for a total value of $219,870.00. Following the completion of the transaction, the executive vice president now directly owns 26,360 shares in the company, valued at $3,863,848.80. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the sale, the insider now owns 30,190 shares in the company, valued at $4,579,823. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $3,073,520 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Electronic Arts Price Performance

NASDAQ EA opened at $163.67 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $42.93 billion, a P/E ratio of 42.07, a PEG ratio of 2.13 and a beta of 0.78. The company has a 50-day moving average price of $151.54 and a 200-day moving average price of $145.01. Electronic Arts Inc. has a 52 week low of $124.92 and a 52 week high of $168.50.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.46%. Electronic Arts’s payout ratio is presently 19.54%.

Analysts Set New Price Targets

EA has been the subject of a number of analyst reports. BNP Paribas raised Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $177.00 in a research report on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Electronic Arts Profile

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.