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

Principal Financial Group Inc. cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 32.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,512 shares of the company's stock after selling 33,499 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Nexstar Media Group worth $11,659,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Management Corp VA increased its position in shares of Nexstar Media Group by 2.7% in the 3rd quarter. Capital Management Corp VA now owns 162,295 shares of the company's stock valued at $26,835,000 after acquiring an additional 4,258 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Nexstar Media Group by 7.6% in the third quarter. QRG Capital Management Inc. now owns 4,532 shares of the company's stock valued at $749,000 after purchasing an additional 322 shares during the period. Glassy Mountain Advisors Inc. increased its holdings in shares of Nexstar Media Group by 6.0% in the third quarter. Glassy Mountain Advisors Inc. now owns 19,931 shares of the company's stock valued at $3,296,000 after purchasing an additional 1,124 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Nexstar Media Group by 159.3% in the third quarter. Harbor Capital Advisors Inc. now owns 9,987 shares of the company's stock worth $1,651,000 after purchasing an additional 6,136 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Nexstar Media Group by 137.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,373 shares of the company's stock worth $723,000 after buying an additional 2,533 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Transactions at Nexstar Media Group

In related news, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. The trade was a 25.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,437 shares of company stock valued at $8,429,561 over the last ninety days. Insiders own 6.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NXST stock traded up $0.34 during trading hours on Monday, hitting $162.18. 328,679 shares of the company's stock were exchanged, compared to its average volume of 329,765. Nexstar Media Group, Inc. has a fifty-two week low of $141.38 and a fifty-two week high of $191.86. The firm has a market cap of $5.03 billion, a P/E ratio of 9.36, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a 50 day moving average of $168.62 and a two-hundred day moving average of $167.18.

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

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $1.69 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 4.17%. Nexstar Media Group's dividend payout ratio (DPR) is presently 39.10%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating on the stock in a report on Friday, August 9th. StockNews.com raised Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Wells Fargo & Company decreased their price objective on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Guggenheim dropped their target price on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a report on Friday, October 4th. Finally, Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $198.50.

Nexstar Media Group 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.