ING Groep NV Cuts Holdings in Electronic Arts Inc. $EA

ING Groep NV decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 93.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,209 shares of the game software company’s stock after selling 649,296 shares during the period. ING Groep NV’s holdings in Electronic Arts were worth $8,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Salomon & Ludwin LLC raised its position in shares of Electronic Arts by 70.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after acquiring an additional 68 shares in the last quarter. MTM Investment Management LLC purchased a new position in Electronic Arts in the second quarter valued at about $30,000. Oakworth Capital Inc. bought a new position in Electronic Arts in the third quarter worth about $30,000. NewSquare Capital LLC raised its holdings in Electronic Arts by 67.5% in the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after purchasing an additional 79 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Electronic Arts by 131.9% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 167 shares of the game software company’s stock valued at $34,000 after buying an additional 95 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

EA has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Electronic Arts from $148.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Citigroup cut their price target on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Benchmark reissued a “buy” rating on shares of Electronic Arts in a research report on Wednesday, October 29th. Finally, Zacks Research lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Four equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $186.95.

Insider Buying and Selling

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $204.11, for a total value of $510,275.00. Following the sale, the insider owned 53,148 shares in the company, valued at $10,848,038.28. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Huber sold 79,381 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $201.17, for a total transaction of $15,969,075.77. The disclosure for this sale is available in the SEC filing. Insiders have sold 123,769 shares of company stock worth $24,943,734 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

Shares of EA stock opened at $202.24 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day moving average of $203.59 and a 200 day moving average of $191.90. The firm has a market capitalization of $50.61 billion, a price-to-earnings ratio of 76.03, a price-to-earnings-growth ratio of 2.44 and a beta of 0.74. Electronic Arts Inc. has a 1 year low of $128.02 and a 1 year high of $204.88.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be given a $0.19 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 28.57%.

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.