Bank of Nova Scotia Raises Position in Electronic Arts Inc. $EA

Bank of Nova Scotia lifted its holdings in Electronic Arts Inc. (NASDAQ:EA) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,778 shares of the game software company’s stock after purchasing an additional 7,523 shares during the quarter. Bank of Nova Scotia owned about 0.14% of Electronic Arts worth $72,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EA. EverSource Wealth Advisors LLC increased its position in Electronic Arts by 2.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,108 shares of the game software company’s stock valued at $425,000 after buying an additional 50 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Electronic Arts by 1.2% in the third quarter. Ballentine Partners LLC now owns 4,783 shares of the game software company’s stock worth $965,000 after acquiring an additional 59 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Electronic Arts by 5.9% in the third quarter. Physician Wealth Advisors Inc. now owns 1,053 shares of the game software company’s stock worth $212,000 after acquiring an additional 59 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Electronic Arts by 3.6% during the third quarter. Linden Thomas Advisory Services LLC now owns 1,941 shares of the game software company’s stock worth $392,000 after acquiring an additional 67 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of Electronic Arts by 20.5% during the third quarter. SBI Securities Co. Ltd. now owns 399 shares of the game software company’s stock worth $80,000 after acquiring an additional 68 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EA. Citigroup decreased their price objective on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, UBS Group restated a “neutral” rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Electronic Arts presently has a consensus rating of “Hold” and a consensus price target of $188.30.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $199.53, for a total transaction of $498,825.00. Following the completion of the sale, the insider directly owned 48,343 shares in the company, valued at approximately $9,645,878.79. The trade was a 4.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the company’s 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 completion of the sale, the chief financial officer directly owned 5,897 shares in the company, valued at $1,178,810.30. This trade represents a 20.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,900 shares of company stock worth $3,814,066 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Up 0.1%

Electronic Arts stock opened at $199.24 on Monday. The business’s 50-day simple moving average is $201.93 and its two-hundred day simple moving average is $197.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $49.86 billion, a PE ratio of 74.90, a PEG ratio of 2.37 and a beta of 0.75. Electronic Arts Inc. has a fifty-two week low of $131.15 and a fifty-two week high of $204.88.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be given a $0.19 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 28.57%.

Electronic Arts Profile

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.