Nexstar Media Group, Inc. $NXST Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 157.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 374,027 shares of the company’s stock after acquiring an additional 228,603 shares during the quarter. JPMorgan Chase & Co. owned 1.23% of Nexstar Media Group worth $73,960,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. lifted its holdings in Nexstar Media Group by 43.3% in the third quarter. Pacer Advisors Inc. now owns 430,913 shares of the company’s stock worth $85,209,000 after purchasing an additional 130,283 shares during the period. Momentum Wealth Planning LLC bought a new stake in shares of Nexstar Media Group during the 2nd quarter worth about $2,798,000. D.A. Davidson & CO. lifted its stake in shares of Nexstar Media Group by 12.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,024 shares of the company’s stock worth $350,000 after acquiring an additional 222 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Nexstar Media Group by 13.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock valued at $127,070,000 after acquiring an additional 75,228 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Nexstar Media Group by 63.0% during the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock valued at $96,557,000 after acquiring an additional 188,695 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Trading Up 0.9%

Shares of NXST opened at $232.77 on Wednesday. The business’s 50-day moving average price is $215.33 and its 200 day moving average price is $204.01. The stock has a market capitalization of $7.06 billion, a P/E ratio of 14.43, a P/E/G ratio of 0.90 and a beta of 0.85. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $254.30. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $1.86 per share. The ex-dividend date is Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.2%. Nexstar Media Group’s payout ratio is currently 46.13%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NXST shares. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, Citigroup decreased their target price on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.50.

About Nexstar Media Group

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.