Premier, Inc. (NASDAQ:PINC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 49.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,699 shares of the company's stock after selling 12,591 shares during the period. Bank of Montreal Can's holdings in Premier were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PINC. Brooklyn Investment Group grew its holdings in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock worth $26,000 after purchasing an additional 1,235 shares during the period. SRS Capital Advisors Inc. boosted its stake in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after buying an additional 786 shares during the period. Keystone Financial Group Inc. acquired a new stake in shares of Premier during the fourth quarter valued at about $37,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Premier in the 3rd quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after acquiring an additional 1,427 shares during the period. Institutional investors and hedge funds own 74.41% of the company's stock.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the general counsel now directly owns 90,597 shares of the company's stock, valued at $1,769,359.41. This represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.96% of the company's stock.

Premier Stock Down 0.2 %

NASDAQ PINC traded down $0.04 during trading hours on Wednesday, hitting $20.35. 776,502 shares of the company were exchanged, compared to its average volume of 1,262,762. The company has a 50 day moving average of $18.96 and a two-hundred day moving average of $20.44. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -203.48 and a beta of 0.51. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.13%. Premier's dividend payout ratio (DPR) is currently -840.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PINC shares. Canaccord Genuity Group dropped their price objective on Premier from $21.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, February 5th. Piper Sandler dropped their target price on Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Finally, Robert W. Baird reduced their price target on shares of Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.17.

Premier Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.