Illinois Municipal Retirement Fund Decreases Stock Position in Electronic Arts Inc. $EA

Illinois Municipal Retirement Fund trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,555 shares of the game software company’s stock after selling 3,908 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.07% of Electronic Arts worth $33,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Walter Public Investments Inc. grew its stake in shares of Electronic Arts by 41.7% in the 3rd quarter. Walter Public Investments Inc. now owns 48,017 shares of the game software company’s stock worth $9,685,000 after buying an additional 14,134 shares during the last quarter. NatWest Group plc purchased a new position in Electronic Arts during the third quarter valued at $10,414,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Electronic Arts in the second quarter worth $287,000. Bank of Montreal Can boosted its holdings in Electronic Arts by 14.3% in the second quarter. Bank of Montreal Can now owns 326,682 shares of the game software company’s stock worth $52,171,000 after acquiring an additional 40,848 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Electronic Arts by 35.4% in the third quarter. Principal Financial Group Inc. now owns 390,971 shares of the game software company’s stock worth $78,859,000 after acquiring an additional 102,248 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Analyst Ratings Changes

EA has been the subject of several recent analyst reports. Zacks Research lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Benchmark reaffirmed a “buy” rating on shares of Electronic Arts in a report on Wednesday, October 29th. Citigroup dropped their target price on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Morgan Stanley increased their price target on shares of Electronic Arts from $148.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Finally, Argus set a $210.00 price objective on shares of Electronic Arts in a report on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $186.95.

Insider Transactions at Electronic Arts

In other Electronic Arts news, Director Jeff Huber sold 79,381 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $201.17, for a total value of $15,969,075.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $204.11, for a total transaction of $510,275.00. Following the sale, the insider directly owned 53,148 shares of the company’s stock, valued at approximately $10,848,038.28. The trade was a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 123,769 shares of company stock worth $24,943,734. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

Shares of NASDAQ EA opened at $202.24 on Thursday. The firm’s 50-day moving average price is $203.59 and its 200-day moving average price is $191.90. Electronic Arts Inc. has a 52-week low of $128.02 and a 52-week high of $204.88. The company has a market cap of $50.61 billion, a PE ratio of 76.03, a PEG ratio of 2.44 and a beta of 0.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

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

Electronic Arts Company Profile

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.