Corebridge Financial Inc. Has $4.74 Million Position in Las Vegas Sands Corp. (NYSE:LVS)

Corebridge Financial Inc. cut its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,203 shares of the casino operator’s stock after selling 1,126 shares during the period. Corebridge Financial Inc.’s holdings in Las Vegas Sands were worth $4,736,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of Las Vegas Sands by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 13,810,351 shares of the casino operator’s stock worth $709,300,000 after purchasing an additional 160,711 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Las Vegas Sands by 13.5% in the fourth quarter. Bank of New York Mellon Corp now owns 11,662,548 shares of the casino operator’s stock worth $598,988,000 after acquiring an additional 1,389,963 shares during the period. Janus Henderson Group PLC increased its position in Las Vegas Sands by 159.6% during the 3rd quarter. Janus Henderson Group PLC now owns 9,130,486 shares of the casino operator’s stock valued at $459,630,000 after purchasing an additional 5,612,975 shares during the period. ARGA Investment Management LP increased its position in shares of Las Vegas Sands by 32.0% during the fourth quarter. ARGA Investment Management LP now owns 6,501,382 shares of the casino operator’s stock worth $333,911,000 after buying an additional 1,577,042 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Las Vegas Sands by 2.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,659,427 shares of the casino operator’s stock worth $133,876,000 after acquiring an additional 57,739 shares in the last quarter. 39.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on LVS shares. Wells Fargo & Company cut their price target on Las Vegas Sands from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Las Vegas Sands from a “hold” rating to a “buy” rating and raised their price target for the stock from $60.00 to $69.00 in a report on Friday, January 3rd. Morgan Stanley dropped their price objective on shares of Las Vegas Sands from $51.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Macquarie raised their target price on Las Vegas Sands from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price target on Las Vegas Sands from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.42.

Las Vegas Sands Trading Down 5.4 %

Shares of Las Vegas Sands stock opened at $38.15 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The stock has a fifty day simple moving average of $43.56 and a 200 day simple moving average of $47.81. Las Vegas Sands Corp. has a 12-month low of $36.62 and a 12-month high of $56.61. The company has a market capitalization of $27.31 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, January 29th. The casino operator reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). Las Vegas Sands had a net margin of 12.80% and a return on equity of 45.82%. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.20. Las Vegas Sands’s payout ratio is presently 50.76%.

Las Vegas Sands Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People’s Republic of China; and Marina Bay Sands in Singapore.