PNC Financial Services Group Inc. Sells 4,441 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

PNC Financial Services Group Inc. trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,229 shares of the company's stock after selling 4,441 shares during the quarter. PNC Financial Services Group Inc. owned 0.41% of Nexstar Media Group worth $21,864,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company's stock valued at $580,689,000 after buying an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company's stock worth $220,189,000 after acquiring an additional 62,331 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company's stock valued at $90,567,000 after purchasing an additional 83,829 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Nexstar Media Group in the 1st quarter worth approximately $92,323,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company's stock worth $69,528,000 after acquiring an additional 2,145 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NXST shares. Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Guggenheim reduced their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a research report on Friday, October 4th. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Benchmark reiterated a "buy" rating and set a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Nexstar Media Group presently has an average rating of "Moderate Buy" and a consensus price target of $198.50.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of the company's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Perry A. Sook sold 12,239 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares of the company's stock, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,903 shares of company stock valued at $7,833,240. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST traded up $0.63 during trading hours on Friday, hitting $169.75. 374,430 shares of the company's stock were exchanged, compared to its average volume of 329,775. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.20 and a beta of 1.48. The company's 50-day moving average price is $168.93 and its 200-day moving average price is $167.15. 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, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $0.70 EPS. The company's revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.98%. Nexstar Media Group's dividend payout ratio (DPR) is presently 39.10%.

Nexstar Media Group Company Profile

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.