Resona Asset Management Co. Ltd. Has $16.99 Million Position in Electronic Arts Inc. $EA

Resona Asset Management Co. Ltd. boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.6% during the second quarter, Holdings Channel.com reports. The fund owned 106,551 shares of the game software company’s stock after acquiring an additional 659 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Electronic Arts were worth $16,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norden Group LLC bought a new position in Electronic Arts in the second quarter valued at about $214,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Electronic Arts in the first quarter worth about $319,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Electronic Arts by 34.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,483 shares of the game software company’s stock valued at $6,467,000 after purchasing an additional 10,453 shares in the last quarter. Vest Financial LLC increased its position in Electronic Arts by 5.7% during the 2nd quarter. Vest Financial LLC now owns 278,069 shares of the game software company’s stock worth $44,408,000 after purchasing an additional 15,032 shares in the last quarter. Finally, CCM Investment Group LLC acquired a new position in Electronic Arts during the 1st quarter worth approximately $1,625,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EA has been the topic of a number of research reports. Zacks Research raised shares of Electronic Arts from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. DZ Bank downgraded Electronic Arts from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 29th. Citigroup upped their target price on Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Wedbush reiterated a “neutral” rating and issued a $200.00 target price on shares of Electronic Arts in a research report on Monday, September 29th. Finally, Bank of America lifted their price target on Electronic Arts from $166.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $181.64.

Electronic Arts Stock Up 0.1%

Shares of NASDAQ:EA opened at $200.60 on Friday. The firm has a market cap of $50.03 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.04 and a beta of 0.74. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $203.75. The business has a fifty day simple moving average of $189.02 and a 200 day simple moving average of $166.81. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $1.11 EPS. The company’s quarterly revenue was down 12.6% on a year-over-year basis. Analysts predict that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is presently 22.22%.

Insider Transactions at Electronic Arts

In related news, CFO Stuart Canfield sold 6,500 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the transaction, the chief financial officer owned 5,140 shares in the company, valued at $1,045,476. The trade was a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $244,080.00. Following the sale, the insider directly owned 33,531 shares in the company, valued at $6,820,205.40. This trade represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,400 shares of company stock worth $7,359,462. Company insiders own 0.24% of the company’s stock.

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.