Blue Trust Inc. Has $104,000 Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Blue Trust Inc. trimmed its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 39.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 659 shares of the company’s stock after selling 429 shares during the period. Blue Trust Inc.’s holdings in Nexstar Media Group were worth $104,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NXST. Creative Planning lifted its holdings in Nexstar Media Group by 43.8% in the third quarter. Creative Planning now owns 6,925 shares of the company’s stock valued at $1,145,000 after buying an additional 2,108 shares during the period. Foundations Investment Advisors LLC acquired a new position in Nexstar Media Group in the third quarter valued at approximately $213,000. Sequoia Financial Advisors LLC lifted its holdings in Nexstar Media Group by 26.5% in the third quarter. Sequoia Financial Advisors LLC now owns 3,834 shares of the company’s stock valued at $634,000 after buying an additional 803 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Nexstar Media Group by 47.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 2,381 shares of the company’s stock valued at $394,000 after buying an additional 768 shares during the period. Finally, Parcion Private Wealth LLC lifted its holdings in Nexstar Media Group by 13.4% in the third quarter. Parcion Private Wealth LLC now owns 31,115 shares of the company’s stock valued at $5,145,000 after buying an additional 3,680 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NXST shares. Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $204.29.

Insider Transactions at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the sale, the chief financial officer now owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernadette S. Aulestia sold 500 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $164.45, for a total transaction of $82,225.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $328,900. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,824 shares of company stock valued at $21,093,408 over the last quarter. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Down 3.2 %

Shares of NXST stock opened at $149.56 on Friday. The firm has a fifty day moving average of $155.72 and a 200-day moving average of $163.63. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 12-month low of $147.25 and a 12-month high of $191.86. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 0.45 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date is Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.97%. Nexstar Media Group’s dividend payout ratio is currently 43.03%.

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.