Resona Asset Management Co. Ltd. Increases Stock Holdings in Electronic Arts Inc. $EA

Resona Asset Management Co. Ltd. boosted its stake in Electronic Arts Inc. (NASDAQ:EA) by 12.5% during the first quarter, Holdings Channel.com reports. The fund owned 108,908 shares of the game software company’s stock after purchasing an additional 12,095 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Electronic Arts were worth $22,185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after purchasing an additional 294 shares during the period. Empowered Funds LLC lifted its stake in Electronic Arts by 167.0% in the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after buying an additional 12,076 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Electronic Arts by 150.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares in the last quarter. Jump Financial LLC acquired a new stake in Electronic Arts in the 2nd quarter worth about $2,323,000. Finally, NewEdge Advisors LLC boosted its holdings in Electronic Arts by 96.4% in the 2nd quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after buying an additional 1,505 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Up 0.8%

EA stock opened at $206.56 on Friday. 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 50-day moving average of $202.69 and a two-hundred day moving average of $202.51. Electronic Arts Inc. has a 12 month low of $146.97 and a 12 month high of $206.59. The company has a market cap of $51.79 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.30 and a beta of 0.64.

Electronic Arts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors 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 of this dividend was Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) is currently 21.78%.

Analyst Ratings Changes

A number of equities analysts have commented on EA shares. Wall Street Zen raised Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Citigroup lifted their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $196.64.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was 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 directly owned 25,991 shares in the company, valued at $5,233,547.76. This represents a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the sale, the insider owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 39,906 shares of company stock valued at $8,060,033. 0.24% of the stock is currently owned by company insiders.

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.