Principal Financial Group Inc. Sells 1,548 Shares of Electronic Arts Inc. (NASDAQ:EA)

Principal Financial Group Inc. decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 321,237 shares of the game software company’s stock after selling 1,548 shares during the period. Principal Financial Group Inc.’s holdings in Electronic Arts were worth $46,078,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of EA. Vanguard Group Inc. lifted its stake in Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock worth $3,868,620,000 after purchasing an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Electronic Arts by 496.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after purchasing an additional 2,090,504 shares in the last quarter. Swedbank AB bought a new stake in shares of Electronic Arts in the 1st quarter valued at about $201,935,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Electronic Arts in the 1st quarter worth approximately $189,055,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Electronic Arts in the 2nd quarter valued at $188,159,000. 90.23% of the stock is currently owned by institutional investors.

Electronic Arts Stock Performance

Shares of EA opened at $157.91 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.45. The business’s fifty day moving average price is $145.66 and its 200 day moving average price is $141.43. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $160.31. The stock has a market capitalization of $41.42 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.78.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.48%. Electronic Arts’s dividend payout ratio is currently 19.54%.

Insider Activity at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $148.88, for a total transaction of $372,200.00. Following the completion of the transaction, the chief executive officer now owns 56,747 shares of the company’s stock, valued at approximately $8,448,493.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stuart Canfield sold 1,260 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $148.37, for a total transaction of $186,946.20. Following the completion of the sale, the chief financial officer now directly owns 7,553 shares of the company’s stock, valued at $1,120,638.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $148.88, for a total transaction of $372,200.00. Following the transaction, the chief executive officer now owns 56,747 shares of the company’s stock, valued at approximately $8,448,493.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,144 shares of company stock worth $3,886,282. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EA shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 price target on shares of Electronic Arts in a report on Wednesday, September 18th. The Goldman Sachs Group increased their target price on shares of Electronic Arts from $139.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Citigroup cut Electronic Arts from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $148.00 to $161.00 in a research report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.37.

Electronic Arts Company 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.