Legal & General Group Plc Sells 2,924 Shares of Nexstar Media Group, Inc. $NXST

Legal & General Group Plc trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.0% during the 4th quarter, Holdings Channel reports. The fund owned 45,506 shares of the company’s stock after selling 2,924 shares during the period. Legal & General Group Plc’s holdings in Nexstar Media Group were worth $9,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. Torren Management LLC bought a new position in Nexstar Media Group during the 4th quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group during the third quarter valued at about $28,000. WPG Advisers LLC lifted its position in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after buying an additional 125 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Nexstar Media Group during the second quarter valued at about $54,000. 95.30% of the stock is currently owned by institutional investors.

Insider Activity at Nexstar Media Group

In other news, COO Michael Biard sold 989 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $185,259.48. Following the sale, the chief operating officer owned 15,224 shares of the company’s stock, valued at $2,851,759.68. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Compton sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the sale, the insider directly owned 11,252 shares in the company, valued at $2,205,392. The trade was a 30.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,290 shares of company stock worth $1,970,979 in the last ninety days. 6.70% of the stock is owned by company insiders.

Analyst Ratings Changes

NXST has been the subject of several analyst reports. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Wells Fargo & Company decreased their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Benchmark decreased their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Buy” and an average target price of $259.67.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $181.01 on Friday. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a market capitalization of $5.53 billion, a P/E ratio of 38.84, a PEG ratio of 0.46 and a beta of 0.91. The company has a 50 day moving average price of $193.83 and a 200 day moving average price of $207.70.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.1%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 159.66%.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.