Russell Investments Group Ltd. Buys 56,293 Shares of Electronic Arts Inc. $EA

Russell Investments Group Ltd. boosted its stake in Electronic Arts Inc. (NASDAQ:EA) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 643,390 shares of the game software company’s stock after purchasing an additional 56,293 shares during the period. Russell Investments Group Ltd. owned approximately 0.26% of Electronic Arts worth $129,838,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ameriflex Group Inc. grew its holdings in shares of Electronic Arts by 100.0% in the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock worth $28,000 after acquiring an additional 69 shares during the period. Oakworth Capital Inc. purchased a new position in Electronic Arts in the third quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Electronic Arts by 131.9% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 167 shares of the game software company’s stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of Electronic Arts in the 2nd quarter worth approximately $30,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the second quarter worth approximately $37,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Up 0.6%

EA opened at $199.27 on Tuesday. The stock has a market cap of $49.87 billion, a price-to-earnings ratio of 74.91, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $202.32 and its 200 day moving average is $196.50. Electronic Arts Inc. has a fifty-two week low of $131.15 and a fifty-two week high of $204.88.

Electronic Arts Dividend Announcement

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 $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is 28.57%.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group reaffirmed a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Citigroup reduced their price objective on Electronic Arts from $207.00 to $202.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Finally, Zacks Research downgraded Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Electronic Arts currently has a consensus rating of “Hold” and a consensus price target of $188.30.

Insiders Place Their Bets

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $199.50, for a total transaction of $997,500.00. Following the completion of the sale, the chief executive officer directly owned 33,858 shares of the company’s stock, valued at $6,754,671. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $199.53, for a total transaction of $498,825.00. Following the sale, the insider owned 48,343 shares in the company, valued at approximately $9,645,878.79. The trade was a 4.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 27,600 shares of company stock worth $5,589,823. Company 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.