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 4.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,380 shares of the company's stock after selling 3,132 shares during the period. Principal Financial Group Inc. owned about 0.22% of Nexstar Media Group worth $10,644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Nexstar Media Group in the third quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in Nexstar Media Group during the third quarter worth about $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group in the third quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $44,000. Finally, Quarry LP grew its stake in shares of Nexstar Media Group by 111.1% during the third quarter. Quarry LP now owns 627 shares of the company's stock worth $104,000 after buying an additional 330 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Down 1.0 %

Shares of Nexstar Media Group stock traded down $1.77 during trading on Tuesday, hitting $171.19. The company's stock had a trading volume of 303,168 shares, compared to its average volume of 348,988. The company has a fifty day simple moving average of $155.59 and a two-hundred day simple moving average of $163.55. The company has a market capitalization of $5.31 billion, a PE ratio of 9.92, a P/E/G ratio of 0.45 and a beta of 1.45. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Remove Ads

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share 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 firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.35%. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 35,205 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the sale, the chief executive officer now owns 674,694 shares of the company's stock, valued at $109,388,138.22. This trade represents a 4.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisbeth Mcnabb sold 875 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $172.00, for a total value of $150,500.00. Following the completion of the sale, the director now owns 5,752 shares of the company's stock, valued at $989,344. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,493 shares of company stock valued at $20,354,366 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NXST has been the subject of a number of research reports. Benchmark raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday. Guggenheim increased their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Friday. Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, February 27th. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and increased their target price for the company from $190.00 to $200.00 in a report on Friday. Finally, StockNews.com cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and a consensus price target of $210.29.

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.