Alps Advisors Inc. Has $17.76 Million Holdings in Premier, Inc. (NASDAQ:PINC)

Alps Advisors Inc. raised its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 921,163 shares of the company's stock after purchasing an additional 66,391 shares during the period. Alps Advisors Inc. owned approximately 1.01% of Premier worth $17,760,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PINC. Northern Trust Corp lifted its stake in 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 acquiring an additional 126,217 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Premier in the 4th quarter valued at about $386,000. Two Sigma Investments LP bought a new position in shares of Premier in the 4th quarter valued at about $892,000. GAMMA Investing LLC grew its position in shares of Premier by 1,435.4% in the 1st quarter. GAMMA Investing LLC now owns 22,924 shares of the company's stock valued at $442,000 after acquiring an additional 21,431 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Premier by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company's stock valued at $38,444,000 after acquiring an additional 71,624 shares during the period. Institutional investors own 74.41% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Helen M. Boudreau sold 2,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the transaction, the director directly owned 18,668 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the transaction, the director owned 28,673 shares of the company's stock, valued at $660,339.19. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,119 shares of company stock worth $321,676. 0.96% of the stock is currently owned by corporate insiders.

Premier Trading Up 0.8%

NASDAQ PINC traded up $0.17 during trading on Monday, reaching $21.25. The company's stock had a trading volume of 1,342,041 shares, compared to its average volume of 1,599,833. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 37.28 and a beta of 0.56. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The firm has a 50 day moving average price of $22.48 and a 200 day moving average price of $20.72.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Friday, May 30th. Premier's payout ratio is presently 147.37%.

About Premier

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.