Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,142 shares of the company's stock after selling 2,865 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Nexstar Media Group worth $5,235,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Nexstar Media Group by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock valued at $1,073,000 after acquiring an additional 68 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. Davis Capital Management lifted its holdings in Nexstar Media Group by 2.0% in the 4th quarter. Davis Capital Management now owns 6,270 shares of the company's stock valued at $990,000 after purchasing an additional 122 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Nexstar Media Group by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company's stock worth $398,000 after purchasing an additional 137 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Nexstar Media Group by 1.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company's stock worth $1,600,000 after buying an additional 140 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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Nexstar Media Group Trading Down 8.2 %

Shares of NXST stock traded down $14.90 during trading on Thursday, hitting $166.96. 784,449 shares of the stock traded hands, compared to its average volume of 355,728. Nexstar Media Group, Inc. has a 52-week low of $146.04 and a 52-week high of $191.86. The firm has a market capitalization of $5.09 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The firm's fifty day moving average price is $164.15 and its 200-day moving average price is $164.98. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.48 billion. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.46%. The ex-dividend date was Wednesday, February 12th. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio (DPR) is 34.56%.

Analyst Ratings Changes

NXST has been the topic of several research reports. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Benchmark raised their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.43.

Insider Activity

In other news, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares of the company's stock, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares in the company, valued at $704,409.75. This represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,105 shares of company stock valued at $6,722,463. Company insiders own 6.30% of the company's stock.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.