Fifth Third Bancorp Has $2.04 Million Position in Nexstar Media Group, Inc. $NXST

Fifth Third Bancorp lifted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1,568.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,259 shares of the company’s stock after purchasing an additional 10,584 shares during the quarter. Fifth Third Bancorp’s holdings in Nexstar Media Group were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sentinel Dome Partners LLC acquired a new position in shares of Nexstar Media Group during the fourth quarter worth $2,315,000. Geode Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after acquiring an additional 13,084 shares in the last quarter. CPC Advisors LLC boosted its holdings in shares of Nexstar Media Group by 114.3% during the 1st quarter. CPC Advisors LLC now owns 26,651 shares of the company’s stock valued at $4,819,000 after acquiring an additional 14,217 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Nexstar Media Group by 3,648.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,995 shares of the company’s stock worth $13,197,000 after acquiring an additional 63,261 shares during the last quarter. Finally, M&T Bank Corp grew its position in Nexstar Media Group by 2,573.4% during the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after acquiring an additional 134,871 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Dana Zimmer sold 915 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30. Following the sale, the insider owned 5,738 shares of the company’s stock, valued at approximately $1,012,297.96. This represents a 13.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the sale, the insider owned 11,252 shares of the company’s stock, valued at approximately $2,205,392. The trade was a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,813 shares of company stock valued at $4,174,731 over the last quarter. Company insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Benchmark dropped their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Wells Fargo & Company cut their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Finally, Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $259.67.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $181.89 on Thursday. The company has a market capitalization of $5.55 billion, a PE ratio of 39.03, a P/E/G ratio of 0.46 and a beta of 0.91. The company has a 50 day simple moving average of $179.05 and a two-hundred day simple moving average of $202.47. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. Nexstar Media Group, Inc. has a fifty-two week low of $154.47 and a fifty-two week high of $254.30.

Nexstar Media Group Dividend Announcement

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

Nexstar Media Group Company 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.