Allstate Corp Purchases New Stake in Electronic Arts Inc. (NASDAQ:EA)

Allstate Corp acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,457 shares of the game software company's stock, valued at approximately $1,091,000.

Several other institutional investors have also recently made changes to their positions in the company. Swedbank AB raised its position in Electronic Arts by 6.3% in the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company's stock worth $235,224,000 after acquiring an additional 95,190 shares during the period. Atomi Financial Group Inc. bought a new stake in shares of Electronic Arts in the 4th quarter worth approximately $217,000. Charles Schwab Investment Management Inc. lifted its stake in Electronic Arts by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company's stock valued at $213,089,000 after purchasing an additional 36,153 shares during the last quarter. Fisher Funds Management LTD purchased a new position in Electronic Arts in the fourth quarter valued at approximately $3,730,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Electronic Arts during the fourth quarter worth about $13,845,000. Institutional investors own 90.23% of the company's stock.

Wall Street Analysts Forecast Growth

EA has been the subject of several analyst reports. BNP Paribas downgraded shares of Electronic Arts from an "outperform" rating to a "neutral" rating and set a $125.00 price objective for the company. in a report on Monday, January 27th. Moffett Nathanson upgraded Electronic Arts from a "neutral" rating to a "buy" rating and set a $145.00 price target for the company in a research report on Friday, January 31st. DA Davidson initiated coverage on shares of Electronic Arts in a research report on Wednesday, February 19th. They issued a "neutral" rating and a $140.00 price objective for the company. Bank of America boosted their price objective on shares of Electronic Arts from $130.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets lowered their target price on shares of Electronic Arts from $145.00 to $142.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Electronic Arts currently has an average rating of "Hold" and a consensus price target of $155.30.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the transaction, the insider now owns 26,216 shares of the company's stock, valued at $3,801,320. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $130.14, for a total value of $650,700.00. Following the completion of the transaction, the chief executive officer now directly owns 37,615 shares of the company's stock, valued at approximately $4,895,216.10. This represents a 11.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock valued at $3,015,990 over the last ninety days. Company insiders own 0.22% of the company's stock.

Electronic Arts Price Performance

NASDAQ EA traded down $9.51 on Friday, reaching $135.34. The company had a trading volume of 4,708,967 shares, compared to its average volume of 2,570,263. The firm's 50 day moving average price is $134.10 and its 200 day moving average price is $144.56. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $35.27 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $168.50.

Electronic Arts (NASDAQ:EA - Get Free Report) last issued its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. As a group, equities analysts predict that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, February 26th. Electronic Arts's dividend payout ratio is presently 19.34%.

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.