Clark Capital Management Group Inc. Invests $4.02 Million in Premier, Inc. (NASDAQ:PINC)

Clark Capital Management Group Inc. purchased a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 189,492 shares of the company's stock, valued at approximately $4,017,000. Clark Capital Management Group Inc. owned approximately 0.20% of Premier at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group lifted its stake in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after purchasing an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 786 shares during the period. Keystone Financial Group Inc. purchased a new stake in Premier in the fourth quarter worth about $37,000. Wilmington Savings Fund Society FSB bought a new position in shares of Premier during the third quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Premier by 297.9% during the fourth 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 in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PINC has been the topic of a number of analyst reports. Piper Sandler lowered their target price on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Robert W. Baird lifted their target price on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Canaccord Genuity Group boosted their price target on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $21.20.

Insider Transactions at Premier

In other news, General Counsel David L. Klatsky sold 10,982 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the sale, the general counsel now owns 76,093 shares of the company's stock, valued at $1,730,354.82. This trade represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 22,119 shares of company stock worth $464,974. 0.96% of the stock is currently owned by company insiders.

Premier Stock Performance

Premier stock traded up $0.20 during midday trading on Thursday, reaching $22.72. The stock had a trading volume of 501,177 shares, compared to its average volume of 1,245,975. The stock's 50-day simple moving average is $19.81 and its 200 day simple moving average is $20.60. The stock has a market capitalization of $2.07 billion, a PE ratio of -227.03 and a beta of 0.54. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.56.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid 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 yield of 3.70%. Premier's payout ratio is 147.37%.

Premier Company 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.