Allstate Corp Invests $1.09 Million in Electronic Arts Inc. (NASDAQ:EA)

Allstate Corp purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,457 shares of the game software company’s stock, valued at approximately $1,091,000.

Several other large investors have also recently added to or reduced their stakes in EA. Townsquare Capital LLC lifted its holdings in Electronic Arts by 94.3% in the third quarter. Townsquare Capital LLC now owns 3,891 shares of the game software company’s stock valued at $558,000 after acquiring an additional 1,888 shares during the period. Fiduciary Trust Co purchased a new position in shares of Electronic Arts in the 3rd quarter valued at about $261,000. Public Sector Pension Investment Board lifted its stake in shares of Electronic Arts by 11.3% in the third quarter. Public Sector Pension Investment Board now owns 8,869 shares of the game software company’s stock valued at $1,272,000 after purchasing an additional 900 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Electronic Arts by 8,503.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock worth $45,626,000 after buying an additional 314,388 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Electronic Arts during the third quarter worth about $15,180,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EA shares. BMO Capital Markets decreased their price target on Electronic Arts from $145.00 to $142.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Benchmark boosted their target price on Electronic Arts from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, March 24th. Stifel Nicolaus dropped their price target on Electronic Arts from $167.00 to $159.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Citigroup decreased their price objective on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Oppenheimer dropped their target price on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, January 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $155.65.

Electronic Arts Trading Down 0.7 %

NASDAQ EA opened at $144.25 on Monday. The company has a 50-day moving average of $133.05 and a 200-day moving average of $144.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50. The company has a market cap of $37.59 billion, a P/E ratio of 36.70, a P/E/G ratio of 3.58 and a beta of 0.78.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. As a group, equities analysts predict that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, February 26th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.34%.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.03, for a total value of $122,030.00. Following the completion of the sale, the insider now directly owns 28,216 shares in the company, valued at approximately $3,443,198.48. This represents a 3.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total value of $713,400.00. Following the completion of the transaction, the chief executive officer now directly owns 42,615 shares in the company, valued at $6,080,308.20. This trade represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock worth $3,018,560 over the last three months. 0.22% of the stock is owned by insiders.

Electronic Arts Profile

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.