Principal Financial Group Inc. Sells 52,240 Shares of Las Vegas Sands Corp. $LVS

Principal Financial Group Inc. cut its stake in Las Vegas Sands Corp. (NYSE:LVS) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 360,066 shares of the casino operator’s stock after selling 52,240 shares during the quarter. Principal Financial Group Inc.’s holdings in Las Vegas Sands were worth $19,368,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Maple Rock Capital Partners Inc. increased its position in shares of Las Vegas Sands by 124.4% in the second quarter. Maple Rock Capital Partners Inc. now owns 1,003,880 shares of the casino operator’s stock worth $43,679,000 after purchasing an additional 556,440 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Las Vegas Sands by 7.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 644,286 shares of the casino operator’s stock valued at $28,033,000 after purchasing an additional 42,598 shares during the last quarter. Donoghue Forlines LLC purchased a new position in Las Vegas Sands in the 3rd quarter worth approximately $2,143,000. CWM LLC increased its holdings in shares of Las Vegas Sands by 78.0% in the 3rd quarter. CWM LLC now owns 102,576 shares of the casino operator’s stock worth $5,518,000 after buying an additional 44,940 shares during the last quarter. Finally, National Pension Service bought a new position in shares of Las Vegas Sands in the 3rd quarter worth $1,262,000. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Up 1.6%

Shares of NYSE:LVS opened at $57.83 on Monday. The stock has a market capitalization of $39.10 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93. The stock’s 50-day moving average price is $62.80 and its 200-day moving average price is $58.47. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 7.42. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $70.45.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, January 28th. The casino operator reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.08. Las Vegas Sands had a return on equity of 87.01% and a net margin of 12.50%.The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $0.54 EPS. Las Vegas Sands’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Monday, February 9th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 9th. Las Vegas Sands’s payout ratio is currently 51.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LVS shares. Zacks Research downgraded shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Seaport Research Partners lowered their price target on Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on Las Vegas Sands from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. HSBC increased their price objective on Las Vegas Sands from $67.50 to $73.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Las Vegas Sands from $76.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.61.

Insider Transactions at Las Vegas Sands

In other Las Vegas Sands news, CFO Randy Hyzak sold 57,545 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $66.45, for a total transaction of $3,823,865.25. Following the completion of the sale, the chief financial officer owned 53,499 shares of the company’s stock, valued at $3,555,008.55. This represents a 51.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Patrick Dumont sold 210,305 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $69.96, for a total transaction of $14,712,937.80. Following the completion of the transaction, the chief operating officer owned 446,608 shares in the company, valued at $31,244,695.68. The trade was a 32.01% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,082,053 shares of company stock valued at $207,130,199. 1.20% of the stock is currently owned by insiders.

Las Vegas Sands Company Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.