Allianz Asset Management GmbH Buys 175,589 Shares of Premier, Inc. $PINC

Allianz Asset Management GmbH raised its stake in Premier, Inc. (NASDAQ:PINC - Free Report) by 31.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 739,509 shares of the company's stock after purchasing an additional 175,589 shares during the period. Allianz Asset Management GmbH owned 0.90% of Premier worth $16,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PINC. Robeco Institutional Asset Management B.V. increased its stake in Premier by 26.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 403,820 shares of the company's stock valued at $7,786,000 after purchasing an additional 85,234 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Premier by 137.3% during the first quarter. Teacher Retirement System of Texas now owns 28,570 shares of the company's stock valued at $551,000 after buying an additional 16,531 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Premier during the first quarter valued at about $914,000. Crossmark Global Holdings Inc. grew its holdings in shares of Premier by 88.1% during the first quarter. Crossmark Global Holdings Inc. now owns 170,723 shares of the company's stock valued at $3,292,000 after buying an additional 79,971 shares during the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of Premier by 7.8% during the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company's stock valued at $17,760,000 after buying an additional 66,391 shares during the last quarter. 74.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

PINC has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Canaccord Genuity Group lifted their price objective on shares of Premier from $25.00 to $28.25 and gave the company a "hold" rating in a report on Tuesday, September 23rd. UBS Group lifted their price objective on shares of Premier from $26.00 to $28.25 and gave the company a "neutral" rating in a report on Thursday, September 25th. Piper Sandler lifted their price objective on shares of Premier from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Premier in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $26.07.

Premier Stock Up 0.1%

Shares of PINC opened at $28.02 on Tuesday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 127.37 and a beta of 0.64. The firm has a fifty day simple moving average of $26.73 and a two-hundred day simple moving average of $23.39. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $28.79.

Premier (NASDAQ:PINC - Get Free Report) last posted its earnings results on Tuesday, January 14th. The company reported $0.67 EPS for the quarter. Premier had a net margin of 2.00% and a return on equity of 7.04%. The firm had revenue of ($713.06) million during the quarter. Sell-side analysts expect that Premier, Inc. will post 1.13 EPS for the current fiscal year.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 29th. Premier's dividend payout ratio (DPR) is presently 381.82%.

Insider Buying and Selling at Premier

In other Premier news, insider Andy Brailo sold 6,521 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $168,176.59. Following the completion of the sale, the insider directly owned 99,447 shares in the company, valued at approximately $2,564,738.13. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $29,323.23. Following the sale, the director owned 27,536 shares of the company's stock, valued at approximately $710,153.44. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,326 shares of company stock worth $317,230. 0.96% of the stock is owned by corporate insiders.

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.

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