AlphaQuest LLC Has $1.33 Million Stock Position in Premier, Inc. $PINC

Key Points

• AlphaQuest LLC increased its stake in Premier, Inc. by 62.6%, owning 69,102 shares worth approximately $1.33 million after acquiring an additional 26,599 shares in the first quarter.
• Premier recently declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 3.3%, despite a high payout ratio of 381.82%.
• Several research firms have updated their price targets for Premier, with a consensus price target now at $24.00 and a consensus rating of "Reduce."

AlphaQuest LLC raised its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 62.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,102 shares of the company's stock after buying an additional 26,599 shares during the quarter. AlphaQuest LLC owned 0.08% of Premier worth $1,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CW Advisors LLC grew its holdings in Premier by 1.8% in the 1st quarter. CW Advisors LLC now owns 26,166 shares of the company's stock valued at $504,000 after buying an additional 454 shares during the last quarter. American Century Companies Inc. grew its holdings in Premier by 11.3% in the 1st quarter. American Century Companies Inc. now owns 2,891,710 shares of the company's stock valued at $55,752,000 after buying an additional 292,979 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Premier in the 1st quarter valued at approximately $6,414,000. Neuberger Berman Group LLC grew its holdings in Premier by 16.7% in the 1st quarter. Neuberger Berman Group LLC now owns 11,183 shares of the company's stock valued at $216,000 after buying an additional 1,604 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Premier by 518.1% in the 1st quarter. Russell Investments Group Ltd. now owns 27,016 shares of the company's stock valued at $521,000 after buying an additional 22,645 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company's stock.

Premier Trading Down 1.7%

Shares of NASDAQ:PINC opened at $25.14 on Friday. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $27.26. The firm has a market capitalization of $2.07 billion, a PE ratio of 114.28 and a beta of 0.56. The business's 50 day moving average is $22.30 and its 200-day moving average is $20.91.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.3%. Premier's payout ratio is currently 381.82%.

Analysts Set New Price Targets

A number of research firms have issued reports on PINC. Canaccord Genuity Group raised their target price on Premier from $22.00 to $25.00 and gave the company a "hold" rating in a report on Wednesday. Piper Sandler lifted their price objective on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, May 21st. Leerink Partners lifted their price objective on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, August 19th. Robert W. Baird lifted their price objective on Premier from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, UBS Group lifted their price objective on Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Premier currently has a consensus rating of "Reduce" and a consensus price target of $24.00.

Insider Buying and Selling at Premier

In related news, Director Helen M. Boudreau sold 2,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $22.88, for a total value of $45,760.00. Following the sale, the director owned 18,668 shares of the company's stock, valued at $427,123.84. The trade was a 9.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the sale, the director directly owned 28,673 shares in the company, valued at approximately $660,339.19. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by 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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