Corebridge Financial Inc. Reduces Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Corebridge Financial Inc. reduced its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,677 shares of the game software company’s stock after selling 2,519 shares during the period. Corebridge Financial Inc.’s holdings in Electronic Arts were worth $11,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB grew its holdings in shares of Electronic Arts by 6.3% during the fourth quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock valued at $235,224,000 after buying an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Electronic Arts during the 4th quarter worth about $217,000. Charles Schwab Investment Management Inc. grew its stake in Electronic Arts by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,456,520 shares of the game software company’s stock valued at $213,089,000 after purchasing an additional 36,153 shares during the last quarter. Fisher Funds Management LTD acquired a new position in shares of Electronic Arts in the fourth quarter valued at about $3,730,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Electronic Arts in the fourth quarter worth about $13,845,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $144.50 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s 50 day simple moving average is $132.86 and its 200-day simple moving average is $144.61. The company has a market cap of $37.66 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. As a group, equities research analysts anticipate that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 annualized dividend and a yield of 0.53%. Electronic Arts’s dividend payout ratio is presently 19.34%.

Analyst Upgrades and Downgrades

EA has been the topic of several research reports. DA Davidson initiated coverage on shares of Electronic Arts in a report on Wednesday, February 19th. They issued a “neutral” rating and a $140.00 price target on the stock. Robert W. Baird cut their price objective on shares of Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Roth Mkm decreased their target price on shares of Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Moffett Nathanson raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Friday, January 31st. Finally, Bank of America boosted their price objective on Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $155.65.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $147.57, for a total transaction of $147,570.00. Following the transaction, the insider now owns 29,216 shares of the company’s stock, valued at approximately $4,311,405.12. The trade was a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $143.45, for a total transaction of $215,175.00. Following the sale, the executive vice president now owns 23,386 shares of the company’s stock, valued at approximately $3,354,721.70. The trade was a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,000 shares of company stock valued at $3,166,740. Corporate 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.