Allianz Asset Management GmbH Has $55.24 Million Stake in Nexstar Media Group, Inc. $NXST

Allianz Asset Management GmbH raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 279,336 shares of the company’s stock after purchasing an additional 84,163 shares during the quarter. Allianz Asset Management GmbH owned 0.92% of Nexstar Media Group worth $55,236,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Claret Asset Management Corp increased its stake in Nexstar Media Group by 4.1% during the second quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock valued at $233,000 after acquiring an additional 53 shares during the period. Merit Financial Group LLC grew its holdings in shares of Nexstar Media Group by 1.7% during the 3rd quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock worth $695,000 after purchasing an additional 59 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Nexstar Media Group by 0.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after purchasing an additional 80 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Nexstar Media Group by 7.3% in the second quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock valued at $207,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Finally, Citigroup decreased their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $222.38.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $213.69 on Thursday. The firm has a market capitalization of $6.48 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.79 and a beta of 0.85. The stock has a fifty day moving average price of $205.06 and a two-hundred day moving average price of $199.43. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $223.36. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.48). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.27 EPS. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.5%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 46.13%.

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.