Truist Financial Corp Has $2.42 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Truist Financial Corp trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,409 shares of the company’s stock after selling 6,894 shares during the period. Truist Financial Corp’s holdings in Nexstar Media Group were worth $2,415,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NXST. HighTower Advisors LLC increased its stake in shares of Nexstar Media Group by 2.9% in the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock valued at $27,322,000 after buying an additional 5,389 shares during the period. Boston Financial Mangement LLC raised its holdings in Nexstar Media Group by 156.5% during the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after purchasing an additional 145,617 shares during the last quarter. Copeland Capital Management LLC raised its holdings in Nexstar Media Group by 3.4% during the 4th quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock worth $81,442,000 after purchasing an additional 16,928 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Nexstar Media Group by 519.6% in the 3rd quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock worth $7,406,000 after purchasing an additional 43,322 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Nexstar Media Group by 72.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock valued at $1,747,000 after purchasing an additional 5,121 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the sale, the director now directly owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the sale, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock worth $7,487,950 in the last quarter. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST opened at $168.11 on Thursday. The stock has a 50-day moving average of $164.66 and a 200-day moving average of $160.47. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.32. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market cap of $5.54 billion, a PE ratio of 17.46, a P/E/G ratio of 0.62 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. Nexstar Media Group’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $8.04 earnings per share. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s payout ratio is presently 70.20%.

Analyst Ratings Changes

NXST has been the topic of several recent analyst reports. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, March 7th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities lowered their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $193.83.

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.