MetLife Investment Management LLC Sells 2,335 Shares of Electronic Arts Inc. (NASDAQ:EA)

MetLife Investment Management LLC lowered its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 3.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 62,986 shares of the game software company’s stock after selling 2,335 shares during the period. MetLife Investment Management LLC’s holdings in Electronic Arts were worth $9,035,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Electronic Arts in the third quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the second quarter worth approximately $28,000. Family Firm Inc. bought a new stake in Electronic Arts during the second quarter valued at approximately $33,000. Reston Wealth Management LLC bought a new stake in shares of Electronic Arts during the 3rd quarter valued at $36,000. Finally, Gradient Investments LLC grew its holdings in Electronic Arts by 592.1% during the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock valued at $37,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total transaction of $151,700.00. Following the completion of the transaction, the insider now owns 30,190 shares of the company’s stock, valued at $4,579,823. This trade represents a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the completion of the sale, the chief executive officer now directly owns 54,247 shares in the company, valued at approximately $7,675,950.50. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $3,073,520 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Electronic Arts Stock Down 1.2 %

Shares of Electronic Arts stock opened at $163.10 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market cap of $42.78 billion, a P/E ratio of 41.93, a PEG ratio of 2.14 and a beta of 0.78. The firm’s 50 day moving average price is $150.61 and its 200-day moving average price is $144.63. Electronic Arts Inc. has a 52-week low of $124.92 and a 52-week high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued 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 0.47%. Electronic Arts’s dividend payout ratio is presently 19.54%.

Analyst Ratings Changes

EA has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 price objective (up from $154.00) on shares of Electronic Arts in a research note on Wednesday, October 30th. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and upped their target price for the company from $135.00 to $177.00 in a research report on Thursday, October 31st. Benchmark restated a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 target price on shares of Electronic Arts in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given 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 an average target price of $165.37.

Electronic Arts Company 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.