Vestcor Inc Acquires 33,982 Shares of Electronic Arts Inc. $EA

Vestcor Inc lifted its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 43.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,668 shares of the game software company’s stock after purchasing an additional 33,982 shares during the quarter. Electronic Arts accounts for about 0.7% of Vestcor Inc’s portfolio, making the stock its 25th biggest position. Vestcor Inc’s holdings in Electronic Arts were worth $22,725,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its stake in Electronic Arts by 5.8% during the 2nd quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock worth $2,726,552,000 after purchasing an additional 932,024 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Electronic Arts by 44.6% in the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock valued at $673,393,000 after buying an additional 1,300,336 shares in the last quarter. Invesco Ltd. lifted its stake in Electronic Arts by 10.1% in the second quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock valued at $656,735,000 after buying an additional 378,824 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Electronic Arts by 26.3% in the third quarter. First Trust Advisors LP now owns 3,069,543 shares of the game software company’s stock valued at $619,127,000 after buying an additional 638,667 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Electronic Arts by 50.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,365,221 shares of the game software company’s stock valued at $377,726,000 after buying an additional 791,978 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EA has been the subject of several research reports. Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Citigroup lowered their target price on Electronic Arts from $207.00 to $202.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Finally, UBS Group restated a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $188.30.

Electronic Arts Price Performance

NASDAQ EA opened at $198.00 on Monday. The firm’s 50 day moving average is $202.42 and its 200-day moving average is $196.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $49.55 billion, a PE ratio of 74.44, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. Electronic Arts Inc. has a 12-month low of $131.15 and a 12-month high of $204.88.

Electronic Arts Announces Dividend

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

Insider Buying and Selling at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $200.63, for a total value of $240,756.00. Following the completion of the transaction, the insider owned 31,160 shares in the company, valued at $6,251,630.80. This trade represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $199.90, for a total value of $299,850.00. Following the completion of the sale, the chief financial officer directly owned 5,897 shares in the company, valued at approximately $1,178,810.30. This represents a 20.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 27,600 shares of company stock valued at $5,589,823. Corporate insiders own 0.24% of the company’s stock.

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.