Sompo Asset Management Co. Ltd. Makes New $221,000 Investment in Electronic Arts Inc. (NASDAQ:EA)

Sompo Asset Management Co. Ltd. purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,540 shares of the game software company’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently modified their holdings of the business. Prime Capital Investment Advisors LLC grew its position in shares of Electronic Arts by 5.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock valued at $225,000 after acquiring an additional 76 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of Electronic Arts by 2.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock valued at $394,000 after acquiring an additional 79 shares during the period. Shepherd Financial Partners LLC grew its position in shares of Electronic Arts by 1.6% during the 3rd quarter. Shepherd Financial Partners LLC now owns 5,690 shares of the game software company’s stock valued at $816,000 after acquiring an additional 88 shares during the period. Grove Bank & Trust grew its position in shares of Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after acquiring an additional 94 shares during the period. Finally, CWM LLC grew its position in shares of Electronic Arts by 1.5% during the 3rd quarter. CWM LLC now owns 6,302 shares of the game software company’s stock valued at $904,000 after acquiring an additional 95 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EA shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 target price on shares of Electronic Arts in a research report on Wednesday, September 18th. Raymond James lifted their price objective on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Benchmark reiterated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, October 30th. TD Cowen lifted their price objective on Electronic Arts from $163.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Electronic Arts Stock Down 0.8 %

EA stock opened at $166.67 on Monday. The firm has a market cap of $43.71 billion, a PE ratio of 42.85, a PEG ratio of 2.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s 50 day moving average price is $149.36 and its 200-day moving average price is $143.97. Electronic Arts Inc. has a one year low of $124.92 and a one year high of $168.50.

Electronic Arts Dividend Announcement

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

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 31,190 shares in the company, valued at $4,675,692.90. The trade was a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.32, for a total transaction of $223,980.00. Following the completion of the transaction, the executive vice president now owns 27,860 shares of the company’s stock, valued at approximately $4,160,055.20. This trade represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,884 shares of company stock valued at $4,404,435. 0.22% of the stock is currently owned by company insiders.

Electronic Arts Company 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.