7,457 Shares in Electronic Arts Inc. (NASDAQ:EA) Acquired by Allstate Corp

Allstate Corp bought a new position in Electronic Arts Inc. (NASDAQ:EA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 7,457 shares of the game software company’s stock, valued at approximately $1,091,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EA. Pinnacle Bancorp Inc. raised its position in shares of Electronic Arts by 141.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after buying an additional 117 shares during the period. Whipplewood Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter valued at $32,000. Millstone Evans Group LLC purchased a new stake in Electronic Arts in the fourth quarter valued at $37,000. SBI Securities Co. Ltd. purchased a new position in shares of Electronic Arts during the 4th quarter worth $41,000. Finally, OFI Invest Asset Management purchased a new position in shares of Electronic Arts during the 4th quarter worth $42,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Ascendiant Capital Markets upped their target price on shares of Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Wedbush restated an “outperform” rating and issued a $173.00 price objective on shares of Electronic Arts in a report on Thursday, January 23rd. BNP Paribas downgraded shares of Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 target price for the company. in a report on Monday, January 27th. Stifel Nicolaus cut their target price on Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Moffett Nathanson upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $155.65.

Insider Buying and Selling at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total value of $215,175.00. Following the completion of the sale, the executive vice president now owns 23,386 shares in the company, valued at $3,354,721.70. This represents a 6.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total transaction of $147,570.00. Following the transaction, the insider now directly owns 29,216 shares in the company, valued at $4,311,405.12. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock worth $3,018,560 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Stock Down 0.7 %

Electronic Arts stock opened at $144.25 on Monday. The stock’s fifty day moving average is $133.05 and its two-hundred day moving average is $144.63. The stock has a market cap of $37.59 billion, a PE ratio of 36.70, a P/E/G ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. On average, sell-side analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. Electronic Arts’s dividend payout ratio (DPR) is presently 19.34%.

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.