Dai ichi Life Insurance Company Ltd Boosts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Dai ichi Life Insurance Company Ltd increased its position in Electronic Arts Inc. (NASDAQ:EA) by 20.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,170 shares of the game software company’s stock after acquiring an additional 11,058 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Electronic Arts were worth $9,205,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EA. Hancock Whitney Corp lifted its holdings in shares of Electronic Arts by 1.3% during the 3rd quarter. Hancock Whitney Corp now owns 8,736 shares of the game software company’s stock valued at $1,253,000 after buying an additional 115 shares during the period. Independent Advisor Alliance increased its position in Electronic Arts by 10.6% during the third quarter. Independent Advisor Alliance now owns 7,544 shares of the game software company’s stock valued at $1,082,000 after acquiring an additional 725 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Electronic Arts by 51.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 12,170 shares of the game software company’s stock valued at $1,746,000 after acquiring an additional 4,110 shares during the period. Daiwa Securities Group Inc. boosted its position in Electronic Arts by 9.5% in the third quarter. Daiwa Securities Group Inc. now owns 53,706 shares of the game software company’s stock worth $7,704,000 after purchasing an additional 4,675 shares during the last quarter. Finally, Alpha DNA Investment Management LLC purchased a new position in Electronic Arts in the third quarter worth about $779,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $163.30, for a total transaction of $244,950.00. Following the sale, the executive vice president now owns 23,360 shares in the company, valued at approximately $3,814,688. The trade was a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the transaction, the chief executive officer now owns 54,247 shares in the company, valued at approximately $7,675,950.50. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,884 shares of company stock valued at $4,404,435 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EA. JPMorgan Chase & Co. decreased their target price on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. TD Cowen raised their price objective on Electronic Arts from $163.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. Benchmark reaffirmed a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a report on Wednesday, October 30th. Finally, Bank of America increased their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Electronic Arts presently has an average rating of “Moderate Buy” and a consensus price target of $165.37.

Electronic Arts Trading Down 1.5 %

Shares of NASDAQ EA opened at $164.14 on Tuesday. Electronic Arts Inc. has a twelve month low of $124.92 and a twelve month high of $168.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $149.71 and a two-hundred day simple moving average of $144.23. The firm has a market cap of $43.05 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

About Electronic Arts

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.