Principal Financial Group Inc. Sells 3,132 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Principal Financial Group Inc. reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,380 shares of the company’s stock after selling 3,132 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of Nexstar Media Group worth $10,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. raised its holdings in Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after buying an additional 1,202,453 shares during the last quarter. Payden & Rygel raised its holdings in Nexstar Media Group by 40.4% in the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after purchasing an additional 31,700 shares in the last quarter. World Investment Advisors LLC bought a new position in Nexstar Media Group in the 3rd quarter worth $3,747,000. SGL Investment Advisors Inc. bought a new position in Nexstar Media Group in the 3rd quarter worth $3,758,000. Finally, Stifel Financial Corp raised its holdings in Nexstar Media Group by 136.8% in the 3rd quarter. Stifel Financial Corp now owns 30,355 shares of the company’s stock worth $5,019,000 after purchasing an additional 17,535 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Up 4.0 %

NASDAQ:NXST opened at $169.15 on Friday. The firm’s 50-day moving average price is $155.08 and its 200-day moving average price is $163.29. The company has a market capitalization of $5.25 billion, a PE ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.45. 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 $146.04 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.40%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is 43.03%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday. Benchmark upped their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday. Guggenheim upped their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday. Finally, Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $200.00 in a report on Friday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and a consensus price target of $210.29.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lee Ann Gliha sold 330 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $158.23, for a total transaction of $52,215.90. Following the transaction, the chief financial officer now owns 8,610 shares in the company, valued at $1,362,360.30. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,493 shares of company stock valued at $20,354,366. 6.30% of the stock is owned by insiders.

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.