Fifth Third Bancorp Boosts Stock Position in Electronic Arts Inc. $EA

Fifth Third Bancorp raised its holdings in Electronic Arts Inc. (NASDAQ:EA) by 53.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,372 shares of the game software company’s stock after buying an additional 23,710 shares during the period. Fifth Third Bancorp’s holdings in Electronic Arts were worth $13,939,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EA. Ascentis Independent Advisors purchased a new stake in Electronic Arts during the first quarter worth approximately $27,000. MV Capital Management Inc. acquired a new position in Electronic Arts in the fourth quarter valued at approximately $28,000. Asset Planning Inc purchased a new position in Electronic Arts in the first quarter valued at approximately $32,000. Whipplewood Advisors LLC purchased a new position in Electronic Arts in the first quarter valued at approximately $32,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in shares of Electronic Arts during the 4th quarter worth approximately $44,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

Shares of EA stock opened at $206.65 on Wednesday. The stock has a market capitalization of $51.82 billion, a PE ratio of 59.21, a price-to-earnings-growth ratio of 2.31 and a beta of 0.64. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $206.82. The stock’s 50-day moving average price is $202.94 and its 200 day moving average price is $202.56. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22.

Electronic Arts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s payout ratio is presently 21.78%.

Analyst Ratings Changes

A number of brokerages recently weighed in on EA. Citigroup boosted their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Electronic Arts has an average rating of “Hold” and a consensus price target of $196.64.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the sale, the insider owned 26,360 shares in the company, valued at $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 business’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 completion of the transaction, the chief financial officer directly owned 25,991 shares in the company, valued at $5,233,547.76. This represents a 5.46% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 31,206 shares of company stock valued at $6,292,058. 0.24% of the stock is owned by company insiders.

Electronic Arts Company Profile

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.