Dai ichi Life Insurance Company Ltd Has $7.40 Million Holdings in Electronic Arts Inc. (NASDAQ:EA)

Dai ichi Life Insurance Company Ltd lifted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,112 shares of the game software company’s stock after purchasing an additional 1,796 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Electronic Arts were worth $7,400,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. North Star Investment Management Corp. increased its position in Electronic Arts by 333.3% in the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after purchasing an additional 150 shares during the period. Cape Investment Advisory Inc. grew its position in shares of Electronic Arts by 102.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after buying an additional 101 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Electronic Arts during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Electronic Arts during the second quarter worth approximately $28,000. Finally, YHB Investment Advisors Inc. acquired a new position in Electronic Arts in the first quarter valued at approximately $30,000. 90.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. BMO Capital Markets reissued an “outperform” rating and issued a $154.00 target price on shares of Electronic Arts in a research note on Tuesday, July 30th. Bank of America raised their target price on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group assumed coverage on Electronic Arts in a research note on Thursday, July 11th. They issued a “buy” rating and a $165.00 price target for the company. Finally, Raymond James boosted their price objective on shares of Electronic Arts from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.28.

Electronic Arts Stock Performance

Shares of EA opened at $145.83 on Friday. The stock has a market capitalization of $38.53 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 1.97 and a beta of 0.79. Electronic Arts Inc. has a 12 month low of $117.47 and a 12 month high of $153.51. The firm has a fifty day simple moving average of $146.26 and a 200 day simple moving average of $137.62. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. Research analysts forecast that Electronic Arts Inc. will post 5.89 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. Electronic Arts’s dividend payout ratio is presently 16.24%.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the completion of the sale, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $144.86, for a total value of $144,860.00. Following the sale, the executive vice president now owns 29,317 shares in the company, valued at approximately $4,246,860.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.71, for a total value of $111,768.00. Following the sale, the insider now directly owns 38,574 shares of the company’s stock, valued at approximately $5,389,173.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,070 shares of company stock worth $3,963,638. Insiders own 0.22% of the company’s stock.

Electronic Arts 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.