Louisiana State Employees Retirement System Takes $5.69 Million Position in Electronic Arts Inc. $EA

Louisiana State Employees Retirement System purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the first quarter, Holdings Channel.com reports. The fund purchased 27,900 shares of the game software company’s stock, valued at approximately $5,688,000.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Electronic Arts by 2.4% in the third quarter. EverSource Wealth Advisors LLC now owns 2,108 shares of the game software company’s stock valued at $425,000 after acquiring an additional 50 shares during the last quarter. Salomon & Ludwin LLC raised its position in Electronic Arts by 32.8% in the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after purchasing an additional 57 shares during the period. Macroview Investment Management LLC raised its position in Electronic Arts by 6.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock valued at $218,000 after purchasing an additional 62 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Electronic Arts by 2.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the game software company’s stock valued at $506,000 after purchasing an additional 68 shares during the last quarter. Finally, 44 Wealth Management LLC lifted its stake in shares of Electronic Arts by 0.9% in the 3rd quarter. 44 Wealth Management LLC now owns 7,555 shares of the game software company’s stock valued at $1,524,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jacob J. Schatz sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the sale, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stuart Canfield sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the completion of the sale, 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. In the last three months, insiders have sold 39,906 shares of company stock worth $8,060,033. 0.24% of the stock is currently owned by insiders.

Electronic Arts Trading Up 0.3%

EA opened at $205.25 on Friday. The company has a market cap of $51.47 billion, a P/E ratio of 58.81, a PEG ratio of 2.30 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. Electronic Arts Inc. has a one year low of $146.97 and a one year high of $205.69. The business’s 50-day simple moving average is $202.27 and its 200-day simple moving average is $202.42.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 21.78%.

Analysts Set New Price Targets

A number of analysts recently issued reports on EA shares. Wall Street Zen raised Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Citigroup lifted 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. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $196.64.

Electronic Arts 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.