Ameriprise Financial Inc. Sells 36,103 Shares of Premier, Inc. (NASDAQ:PINC)

Ameriprise Financial Inc. lessened its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent disclosure 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 SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in shares of Premier by 126.9% during the fourth quarter. Jane Street Group LLC now owns 326,254 shares of the company's stock worth $6,917,000 after purchasing an additional 182,451 shares during the period. AdvisorShares Investments LLC acquired a new position in shares of Premier during the fourth quarter worth $470,000. Northern Trust Corp lifted its holdings in shares of Premier by 20.5% during the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company's stock worth $15,725,000 after purchasing an additional 126,217 shares during the period. Aquatic Capital Management LLC lifted its holdings in shares of Premier by 98.1% during the fourth quarter. Aquatic Capital Management LLC now owns 28,124 shares of the company's stock worth $596,000 after purchasing an additional 13,924 shares during the period. Finally, Syon Capital LLC acquired a new position in Premier in the fourth quarter valued at $257,000. Institutional investors own 74.41% of the company's stock.

Premier Trading Down 0.9%

Shares of Premier stock traded down $0.21 on Wednesday, hitting $22.83. 795,148 shares of the company traded hands, compared to its average volume of 1,248,197. The firm's 50-day simple moving average is $20.65 and its 200 day simple moving average is $20.71. The company has a market cap of $1.88 billion, a P/E ratio of -228.63 and a beta of 0.54. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.68%. Premier's dividend payout ratio is presently 147.37%.

Wall Street Analyst Weigh In

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

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 10,982 shares of the business's stock in a transaction that occurred 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 sale, the general counsel now directly owns 76,093 shares in the company, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 22,119 shares of company stock worth $464,974 over the last three months. 0.96% of the stock is currently owned by company insiders.

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.