Premier, Inc. (NASDAQ:PINC) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 266,465 shares of the company's stock after selling 36,103 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.28% of Premier worth $5,649,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PINC. SRS Capital Advisors Inc. boosted its position in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after acquiring an additional 786 shares during the last quarter. Keystone Financial Group Inc. purchased a new position in Premier during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC raised its stake in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after purchasing an additional 1,427 shares during the period. Van ECK Associates Corp raised its stake in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after purchasing an additional 446 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in Premier during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 74.41% of the company's stock.

Analyst Upgrades and Downgrades

PINC has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Canaccord Genuity Group increased their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler increased their price target on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $22.20.

Premier Stock Up 0.6%

Shares of PINC stock traded up $0.15 during mid-day trading on Thursday, reaching $23.04. The company's stock had a trading volume of 120,567 shares, compared to its average volume of 1,248,770. The company's 50 day simple moving average is $20.74 and its 200-day simple moving average is $20.73. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The firm has a market capitalization of $1.90 billion, a PE ratio of -230.08 and a beta of 0.54.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio (DPR) is 147.37%.

Insider Buying and Selling

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 shares were sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 22,119 shares of company stock valued at $464,974 in the last quarter. Company insiders own 0.96% of the company's stock.

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.