Kentucky Retirement Systems Lowers Position in Electronic Arts Inc. (NASDAQ:EA)

Kentucky Retirement Systems decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,333 shares of the game software company’s stock after selling 143 shares during the quarter. Kentucky Retirement Systems’ holdings in Electronic Arts were worth $2,554,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its position in Electronic Arts by 2.9% during the second quarter. Cullen Frost Bankers Inc. now owns 2,828 shares of the game software company’s stock worth $394,000 after purchasing an additional 79 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Electronic Arts by 23.5% during the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock valued at $69,000 after buying an additional 94 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Electronic Arts by 4.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock valued at $291,000 after acquiring an additional 97 shares during the period. Claro Advisors LLC increased its holdings in Electronic Arts by 5.6% in the 1st quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after acquiring an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Electronic Arts by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,909 shares of the game software company’s stock worth $2,913,000 after acquiring an additional 100 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on EA shares. Oppenheimer lifted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on Electronic Arts from $148.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. BMO Capital Markets restated an “outperform” rating and issued a $154.00 target price on shares of Electronic Arts in a research report on Tuesday, July 30th. StockNews.com upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus raised their price objective on Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.94.

Electronic Arts Trading Down 0.8 %

Shares of Electronic Arts stock opened at $139.55 on Friday. The stock has a 50 day moving average of $146.27 and a 200 day moving average of $137.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $37.08 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 1.97 and a beta of 0.79. Electronic Arts Inc. has a fifty-two week low of $117.47 and a fifty-two week high of $153.51.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, research analysts predict that Electronic Arts Inc. will post 5.89 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, August 28th. Electronic Arts’s payout ratio is currently 16.24%.

Insiders Place Their Bets

In other news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the sale, the executive vice president now owns 26,360 shares of the company’s stock, valued at $3,863,848.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Jacob J. Schatz sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the transaction, the executive vice president now directly owns 26,360 shares of the company’s stock, valued at $3,863,848.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the sale, the insider now directly owns 30,190 shares in the company, valued at approximately $4,579,823. The disclosure for this sale can be found here. Insiders have sold a total of 28,570 shares of company stock worth $4,183,508 in the last ninety days. 0.22% of the stock is owned by corporate 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.