Man Group plc Buys Shares of 91,315 Premier, Inc. (NASDAQ:PINC)

Man Group plc bought a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 91,315 shares of the company's stock, valued at approximately $1,936,000. Man Group plc owned about 0.10% of Premier at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PINC. Brandes Investment Partners LP boosted its stake in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after buying an additional 464,710 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Premier during the 4th quarter valued at approximately $5,275,000. Millennium Management LLC boosted its stake in shares of Premier by 142.8% during the 4th quarter. Millennium Management LLC now owns 402,566 shares of the company's stock valued at $8,534,000 after buying an additional 236,787 shares during the last quarter. Clark Capital Management Group Inc. purchased a new position in shares of Premier during the 4th quarter valued at approximately $4,017,000. Finally, Jane Street Group LLC boosted its stake in shares of Premier by 126.9% during the 4th quarter. Jane Street Group LLC now owns 326,254 shares of the company's stock valued at $6,917,000 after buying an additional 182,451 shares during the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now directly owns 90,597 shares of the company's stock, valued at approximately $1,769,359.41. This trade represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 22,119 shares of company stock valued at $464,974. Company insiders own 0.96% of the company's stock.

Premier Stock Up 0.3%

NASDAQ PINC traded up $0.07 during trading hours on Thursday, hitting $22.96. The company had a trading volume of 238,043 shares, compared to its average volume of 1,249,241. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The business has a fifty day simple moving average of $20.74 and a 200-day simple moving average of $20.73. The firm has a market cap of $1.89 billion, a P/E ratio of -229.28 and a beta of 0.54.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, May 30th. Premier's dividend payout ratio is presently 147.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Canaccord Genuity Group increased their target price on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Piper Sandler upped their price target on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird upped their price target on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $22.20.

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.