Man Group plc Takes $1.94 Million Position in Premier, Inc. (NASDAQ:PINC)

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

A number of other large investors also recently modified their holdings of PINC. Northern Trust Corp lifted its holdings in shares of Premier by 20.5% in the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company's stock valued at $15,725,000 after purchasing an additional 126,217 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Premier in the fourth quarter valued at approximately $386,000. Steward Partners Investment Advisory LLC bought a new position in shares of Premier in the fourth quarter valued at approximately $554,000. KBC Group NV lifted its holdings in shares of Premier by 38.1% in the fourth quarter. KBC Group NV now owns 5,589 shares of the company's stock valued at $118,000 after purchasing an additional 1,542 shares in the last quarter. Finally, Caprock Group LLC bought a new position in shares of Premier in the fourth quarter valued at approximately $292,000. 74.41% of the stock is currently owned by institutional investors.

Premier Trading Down 0.1%

Shares of PINC traded down $0.03 on Tuesday, reaching $23.03. 2,150,293 shares of the company's stock traded hands, compared to its average volume of 1,249,695. The stock's 50 day simple moving average is $20.56 and its two-hundred day simple moving average is $20.69. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.62. The stock has a market cap of $1.90 billion, a PE ratio of -230.28 and a beta of 0.54.

Premier Announces Dividend

The company 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 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, May 30th. Premier's dividend payout ratio is currently 147.37%.

Insiders Place Their Bets

In other Premier 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 22,119 shares of company stock valued at $464,974 over the last ninety days. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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