SEB Asset Management AB Acquires Shares of 53,681 Electronic Arts Inc. $EA

SEB Asset Management AB acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 53,681 shares of the game software company’s stock, valued at approximately $10,944,000.

Other institutional investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. increased its stake in Electronic Arts by 12.5% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock valued at $22,185,000 after buying an additional 12,095 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Electronic Arts by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 110,851 shares of the game software company’s stock worth $22,650,000 after buying an additional 9,297 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Electronic Arts by 33.6% in the 4th quarter. Nordea Investment Management AB now owns 227,893 shares of the game software company’s stock worth $46,554,000 after buying an additional 57,268 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Electronic Arts in the fourth quarter valued at approximately $8,745,000. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Electronic Arts by 500.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,805 shares of the game software company’s stock valued at $9,768,000 after acquiring an additional 39,841 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

NASDAQ EA opened at $209.29 on Tuesday. The firm has a market cap of $52.48 billion, a P/E ratio of 59.97, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $203.56 and its 200-day moving average is $202.66. Electronic Arts Inc. has a 12-month low of $146.97 and a 12-month high of $209.34.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) is 21.78%.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. This represents a 4.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the sale, the chief financial officer owned 25,991 shares in the company, valued at approximately $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. Insiders have sold 31,206 shares of company stock valued at $6,292,058 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EA. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Citigroup raised their target price on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Electronic Arts currently has an average rating of “Hold” and an average price target of $196.64.

About Electronic Arts

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.