Allianz Asset Management GmbH Cuts Holdings in Electronic Arts Inc. $EA

Allianz Asset Management GmbH lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,561 shares of the game software company’s stock after selling 11,157 shares during the period. Allianz Asset Management GmbH’s holdings in Electronic Arts were worth $51,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Copia Wealth Management purchased a new position in Electronic Arts in the 2nd quarter worth approximately $44,000. Rosenberg Matthew Hamilton grew its stake in Electronic Arts by 18.9% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,333 shares of the game software company’s stock worth $213,000 after buying an additional 212 shares in the last quarter. Generali Asset Management SPA SGR grew its stake in Electronic Arts by 353.5% in the 2nd quarter. Generali Asset Management SPA SGR now owns 33,016 shares of the game software company’s stock worth $5,273,000 after buying an additional 25,736 shares in the last quarter. JGP Wealth Management LLC grew its stake in Electronic Arts by 1.6% in the 2nd quarter. JGP Wealth Management LLC now owns 6,685 shares of the game software company’s stock worth $1,068,000 after buying an additional 107 shares in the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new position in Electronic Arts in the 2nd quarter worth approximately $217,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Down 0.0%

NASDAQ:EA opened at $200.30 on Friday. The company has a fifty day moving average of $180.90 and a 200 day moving average of $160.42. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $203.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $50.12 billion, a P/E ratio of 50.20, a P/E/G ratio of 3.04 and a beta of 0.77.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, August 27th. Electronic Arts’s dividend payout ratio is currently 19.05%.

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $201.79, for a total transaction of $504,475.00. Following the completion of the sale, the insider directly owned 53,092 shares in the company, valued at $10,713,434.68. This represents a 4.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $200.31, for a total transaction of $240,372.00. Following the sale, the insider owned 32,331 shares of the company’s stock, valued at $6,476,222.61. This represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,900 shares of company stock worth $7,506,487 over the last ninety days. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of research reports. BMO Capital Markets boosted their price target on shares of Electronic Arts from $166.00 to $210.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 30th. Cowen cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Oppenheimer cut shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 30th. TD Cowen cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Wedbush reaffirmed a “neutral” rating and issued a $200.00 price objective on shares of Electronic Arts in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Electronic Arts has an average rating of “Hold” and an average price target of $177.00.

About Electronic Arts

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.