Allstate Corp Acquires 9,485 Shares of Electronic Arts Inc. $EA

Allstate Corp increased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 105.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,448 shares of the game software company’s stock after purchasing an additional 9,485 shares during the quarter. Allstate Corp’s holdings in Electronic Arts were worth $3,769,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 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 purchasing an additional 102,248 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Electronic Arts in the third quarter worth $1,025,000. OPTIMAS CAPITAL Ltd bought a new stake in shares of Electronic Arts in the third quarter worth $1,815,000. Greenland Capital Management LP bought a new stake in shares of Electronic Arts in the third quarter worth $5,569,000. Finally, Swiss Life Asset Management Ltd grew its stake in shares of Electronic Arts by 75.8% in the third quarter. Swiss Life Asset Management Ltd now owns 85,245 shares of the game software company’s stock worth $17,194,000 after purchasing an additional 36,769 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Citigroup upped their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.64.

Electronic Arts Stock Performance

Shares of EA opened at $200.68 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $50.32 billion, a P/E ratio of 57.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The firm’s fifty day simple moving average is $202.03 and its two-hundred day simple moving average is $202.25. Electronic Arts Inc. has a 12 month low of $141.19 and a 12 month high of $204.88.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be given 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 of this dividend is Wednesday, May 27th. Electronic Arts’s dividend payout ratio is 21.78%.

Insider Activity at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $199.95, for a total transaction of $499,875.00. Following the transaction, the insider owned 45,843 shares of the company’s stock, valued at $9,166,307.85. This represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.36, for a total transaction of $302,040.00. Following the transaction, the chief financial officer directly owned 25,991 shares in the company, valued at $5,233,547.76. This trade represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 39,906 shares of company stock worth $8,032,336 over the last quarter. Company insiders own 0.24% of the company’s stock.

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.