New York Life Investment Management LLC Grows Position in Electronic Arts Inc. $EA

New York Life Investment Management LLC increased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 156.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,850 shares of the game software company’s stock after acquiring an additional 51,729 shares during the quarter. New York Life Investment Management LLC’s holdings in Electronic Arts were worth $17,337,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Electronic Arts by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 28,773,086 shares of the game software company’s stock worth $5,879,205,000 after acquiring an additional 485,030 shares during the period. Pentwater Capital Management LP purchased a new stake in Electronic Arts in the third quarter worth about $968,160,000. Ameriprise Financial Inc. lifted its stake in Electronic Arts by 8.9% in the third quarter. Ameriprise Financial Inc. now owns 4,591,869 shares of the game software company’s stock worth $926,194,000 after acquiring an additional 374,840 shares during the period. Invesco Ltd. lifted its stake in Electronic Arts by 4.9% in the third quarter. Invesco Ltd. now owns 4,314,962 shares of the game software company’s stock worth $870,328,000 after acquiring an additional 202,657 shares during the period. Finally, First Trust Advisors LP lifted its stake in Electronic Arts by 26.3% in the third quarter. First Trust Advisors LP now owns 3,069,543 shares of the game software company’s stock worth $619,127,000 after acquiring an additional 638,667 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $203.21, for a total transaction of $1,016,050.00. Following the transaction, the chief executive officer owned 23,858 shares in the company, valued at $4,848,184.18. This represents a 17.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $203.25, for a total transaction of $243,900.00. Following the transaction, the insider owned 28,760 shares in the company, valued at approximately $5,845,470. This trade represents a 4.01% 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. In the last ninety days, insiders sold 27,600 shares of company stock valued at $5,544,159. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $200.64 on Friday. The firm has a market cap of $50.31 billion, a price-to-earnings ratio of 57.49, a PEG ratio of 2.20 and a beta of 0.66. The firm has a 50-day simple moving average of $201.76 and a two-hundred day simple moving average of $202.19. Electronic Arts Inc. has a one year low of $141.19 and a one year high of $204.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.93 and a current ratio of 1.05.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, May 27th. Electronic Arts’s dividend payout ratio is presently 21.78%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Electronic Arts in a research note on Monday, May 4th. UBS Group reissued a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Finally, Citigroup increased 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. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Electronic Arts has a consensus rating of “Hold” and a consensus price target of $196.64.

Electronic Arts Company 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.