Manning & Napier Group LLC Reduces Stake in Electronic Arts Inc. (NASDAQ:EA)

Manning & Napier Group LLC cut its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,377,849 shares of the game software company’s stock after selling 28,162 shares during the quarter. Electronic Arts comprises 2.2% of Manning & Napier Group LLC’s investment portfolio, making the stock its 10th biggest holding. Manning & Napier Group LLC owned approximately 0.51% of Electronic Arts worth $188,504,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. purchased a new position in Electronic Arts during the third quarter valued at $26,000. Bray Capital Advisors raised its stake in Electronic Arts by 100.0% during the third quarter. Bray Capital Advisors now owns 220 shares of the game software company’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in Electronic Arts during the fourth quarter valued at $26,000. Leith Wheeler Investment Counsel Ltd. raised its stake in Electronic Arts by 269.1% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 212,585 shares of the game software company’s stock valued at $29,000 after buying an additional 154,989 shares during the last quarter. Finally, Neo Ivy Capital Management raised its stake in Electronic Arts by 70.1% during the second quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock valued at $31,000 after buying an additional 108 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wedbush restated an “outperform” rating and issued a $162.00 price target on shares of Electronic Arts in a research note on Wednesday, January 31st. UBS Group decreased their price target on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the company in a research note on Wednesday. Wolfe Research initiated coverage on Electronic Arts in a research note on Tuesday, December 12th. They issued a “peer perform” rating for the company. Stifel Nicolaus lifted their price objective on Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, BMO Capital Markets started coverage on Electronic Arts in a report on Tuesday, January 9th. They set an “outperform” rating and a $160.00 price target for the company. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Electronic Arts Trading Up 0.6 %

EA stock traded up $0.80 during midday trading on Friday, reaching $132.67. 2,368,777 shares of the company traded hands, compared to its average volume of 2,551,920. Electronic Arts Inc. has a 52-week low of $117.47 and a 52-week high of $144.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50 day moving average of $137.45 and a 200-day moving average of $133.29. The firm has a market capitalization of $35.47 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 1.95 and a beta of 0.77.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.38). Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the company earned $2.29 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Electronic Arts Inc. will post 5.36 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a $0.19 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.57%. Electronic Arts’s payout ratio is 19.14%.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $138.88, for a total value of $347,200.00. Following the transaction, the chief executive officer now owns 30,930 shares of the company’s stock, valued at $4,295,558.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $135.50, for a total transaction of $108,400.00. Following the completion of the sale, the insider now owns 29,483 shares in the company, valued at approximately $3,994,946.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $138.88, for a total value of $347,200.00. Following the completion of the transaction, the chief executive officer now owns 30,930 shares of the company’s stock, valued at approximately $4,295,558.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,144 shares of company stock worth $5,160,804. 0.20% of the stock is currently owned by company insiders.

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.