CANADA LIFE ASSURANCE Co Raises Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

CANADA LIFE ASSURANCE Co grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,677 shares of the company’s stock after buying an additional 1,055 shares during the period. CANADA LIFE ASSURANCE Co owned 0.11% of Nexstar Media Group worth $6,140,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust bought a new position in Nexstar Media Group in the 4th quarter worth $33,000. SRS Capital Advisors Inc. increased its stake in Nexstar Media Group by 350.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after buying an additional 186 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake in Nexstar Media Group during the fourth quarter valued at about $45,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other news, EVP Blake Russell sold 433 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the sale, the executive vice president now directly owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Blake Russell sold 433 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Weitman sold 522 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,819.76. Following the completion of the transaction, the insider now directly owns 12,477 shares in the company, valued at approximately $1,860,071.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,826 shares of company stock worth $1,080,597. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday. Benchmark reissued a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Thursday, June 20th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Finally, Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $221.00 in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $203.67.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $183.36 on Friday. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.32. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The company’s 50-day moving average price is $163.70 and its 200-day moving average price is $166.39. The company has a market cap of $6.04 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.88. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 EPS. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.69%. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

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.