Deroy & Devereaux Private Investment Counsel Inc. Sells 15,854 Shares of Electronic Arts Inc. $EA

Deroy & Devereaux Private Investment Counsel Inc. reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 147,647 shares of the game software company’s stock after selling 15,854 shares during the period. Electronic Arts accounts for approximately 1.5% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its 28th largest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Electronic Arts were worth $30,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Walter Public Investments Inc. lifted its stake in shares of Electronic Arts by 41.7% in the 3rd quarter. Walter Public Investments Inc. now owns 48,017 shares of the game software company’s stock worth $9,685,000 after purchasing an additional 14,134 shares during the period. Great Lakes Advisors LLC bought a new stake in Electronic Arts during the third quarter valued at approximately $1,025,000. Principal Financial Group Inc. grew its position in Electronic Arts by 35.4% during the third quarter. Principal Financial Group Inc. now owns 390,971 shares of the game software company’s stock valued at $78,859,000 after buying an additional 102,248 shares during the period. Greenland Capital Management LP purchased a new stake in Electronic Arts during the third quarter valued at approximately $5,569,000. Finally, Swiss Life Asset Management Ltd increased its holdings in Electronic Arts by 75.8% during the third quarter. Swiss Life Asset Management Ltd now owns 85,245 shares of the game software company’s stock valued at $17,194,000 after buying an additional 36,769 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In related news, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $199.90, for a total transaction of $299,850.00. Following the transaction, the chief financial officer owned 5,897 shares in the company, valued at approximately $1,178,810.30. The trade was a 20.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $199.95, for a total transaction of $999,750.00. Following the completion of the transaction, the chief executive officer directly owned 28,858 shares of the company’s stock, valued at $5,770,157.10. This represents a 14.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,600 shares of company stock valued at $5,544,159. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

EA has been the topic of several analyst reports. Citigroup dropped their price target on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. UBS Group restated a “neutral” rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Three investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $188.30.

Electronic Arts Trading Up 0.2%

Shares of NASDAQ:EA opened at $203.83 on Friday. The stock has a 50 day moving average of $201.48 and a 200 day moving average of $202.04. The company has a market cap of $51.01 billion, a PE ratio of 76.63, a price-to-earnings-growth ratio of 2.19 and a beta of 0.73. Electronic Arts Inc. has a 12-month low of $141.04 and a 12-month high of $204.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s payout ratio is currently 28.57%.

About Electronic Arts

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.