Kentucky Retirement Systems Insurance Trust Fund Trims Stake in Electronic Arts Inc. (NASDAQ:EA)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,118 shares of the game software company’s stock after selling 729 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Electronic Arts were worth $1,021,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Electronic Arts in the third quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts during the second quarter worth about $28,000. Family Firm Inc. acquired a new position in Electronic Arts in the 2nd quarter valued at about $33,000. New Covenant Trust Company N.A. acquired a new stake in Electronic Arts during the 1st quarter worth approximately $35,000. Finally, Reston Wealth Management LLC acquired a new stake in Electronic Arts during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $161.36 on Monday. The company has a market cap of $42.32 billion, a P/E ratio of 41.48, a P/E/G ratio of 2.11 and a beta of 0.78. The business has a fifty day simple moving average of $147.17 and a 200-day simple moving average of $142.65. Electronic Arts Inc. has a 52 week low of $124.92 and a 52 week high of $164.42. 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 declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.47%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is 19.54%.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. The trade was a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the completion of the transaction, the insider now owns 50,433 shares in the company, valued at approximately $7,969,926.99. This trade represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,884 shares of company stock valued at $3,699,335 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EA shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 price target on shares of Electronic Arts in a research note on Wednesday, September 18th. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Electronic Arts in a research report on Friday, October 25th. Bank of America lifted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. DZ Bank raised shares of Electronic Arts from a “hold” rating to a “buy” rating and increased their price target for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.37.

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.