Investment Management Corp of Ontario Purchases 44,089 Shares of Electronic Arts Inc. (NASDAQ:EA)

Investment Management Corp of Ontario grew its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 773.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,786 shares of the game software company’s stock after purchasing an additional 44,089 shares during the quarter. Investment Management Corp of Ontario’s holdings in Electronic Arts were worth $7,141,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its position in shares of Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after buying an additional 234,098 shares during the period. Park Avenue Securities LLC grew its position in shares of Electronic Arts by 34.9% during the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock worth $1,982,000 after buying an additional 3,681 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Electronic Arts during the 3rd quarter worth approximately $5,597,000. Dai ichi Life Insurance Company Ltd grew its position in shares of Electronic Arts by 20.8% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock worth $9,205,000 after buying an additional 11,058 shares during the period. Finally, Chesapeake Capital Corp IL acquired a new stake in shares of Electronic Arts during the 3rd quarter worth approximately $950,000. Institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on EA. JPMorgan Chase & Co. reduced their price target on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, October 30th. Argus lifted their target price on Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and lifted their target price for the stock from $135.00 to $177.00 in a research note on Thursday, October 31st. Finally, UBS Group lifted their target price on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average target price of $165.37.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $165.96 on Tuesday. The company has a market cap of $43.53 billion, a PE ratio of 42.66, a P/E/G ratio of 2.14 and a beta of 0.79. The business has a 50 day moving average of $151.54 and a 200 day moving average of $145.26. Electronic Arts Inc. has a 52 week low of $124.92 and a 52 week high of $168.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.46%. Electronic Arts’s dividend payout ratio (DPR) is presently 19.54%.

Insider Activity at Electronic Arts

In other news, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total value of $832,350.00. Following the transaction, the chief executive officer now owns 52,615 shares of the company’s stock, valued at $8,758,819.05. This trade represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $146.58, for a total value of $219,870.00. Following the sale, the executive vice president now directly owns 26,360 shares in the company, valued at $3,863,848.80. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $2,921,820 over the last ninety days. 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.