Ameriprise Financial Inc. decreased its stake in Premier, Inc. (NASDAQ:PINC - Free Report) by 11.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 266,465 shares of the company's stock after selling 36,103 shares during the quarter. Ameriprise Financial Inc. owned 0.28% of Premier worth $5,649,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Brandes Investment Partners LP boosted its stake in Premier by 123.1% in the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock worth $17,857,000 after purchasing an additional 464,710 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Premier in the fourth quarter valued at $5,275,000. Jane Street Group LLC lifted its holdings in shares of Premier by 126.9% in the fourth quarter. Jane Street Group LLC now owns 326,254 shares of the company's stock valued at $6,917,000 after purchasing an additional 182,451 shares in the last quarter. Invesco Ltd. boosted its position in shares of Premier by 23.6% in the fourth quarter. Invesco Ltd. now owns 719,597 shares of the company's stock worth $15,255,000 after buying an additional 137,306 shares during the period. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Premier by 408.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 169,458 shares of the company's stock valued at $3,593,000 after buying an additional 136,129 shares in the last quarter. 74.41% of the stock is owned by hedge funds and other institutional investors.
Premier Stock Performance
Shares of NASDAQ:PINC traded down $0.03 on Tuesday, hitting $23.03. The stock had a trading volume of 2,150,293 shares, compared to its average volume of 1,249,695. The firm's 50 day moving average price is $20.56 and its 200-day moving average price is $20.69. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.62. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -230.28 and a beta of 0.54.
Premier Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.65%. Premier's dividend payout ratio is 147.37%.
Insider Activity 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 value of $249,730.68. Following the completion of the transaction, the general counsel now owns 76,093 shares in the company, valued at $1,730,354.82. The trade was a 12.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 22,119 shares of company stock valued at $464,974 in the last three months. Corporate insiders own 0.96% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on PINC. 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 report on Thursday, May 15th. Canaccord Genuity Group raised their price objective on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler upped their price target on shares of Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.20.
View Our Latest Report on PINC
Premier Company Profile
(
Free Report)
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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