BNP Paribas Financial Markets Boosts Stake in Premier, Inc. (NASDAQ:PINC)

BNP Paribas Financial Markets lifted its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 162.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,863 shares of the company's stock after acquiring an additional 46,302 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Premier worth $1,587,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PINC. Northern Trust Corp boosted its holdings in Premier by 20.5% in the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company's stock valued at $15,725,000 after purchasing an additional 126,217 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Premier in the 4th quarter valued at approximately $386,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Premier in the 4th quarter valued at approximately $554,000. KBC Group NV boosted its stake in shares of Premier by 38.1% in the fourth quarter. KBC Group NV now owns 5,589 shares of the company's stock valued at $118,000 after buying an additional 1,542 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Premier in the fourth quarter valued at approximately $248,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the sale, the general counsel now directly owns 90,597 shares in the company, valued at $1,769,359.41. The trade was a 9.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 22,119 shares of company stock worth $464,974 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PINC has been the subject of several research analyst reports. Piper Sandler increased their price objective on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday. Robert W. Baird upped 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. Finally, Canaccord Genuity Group raised their price objective on shares of Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.20.

Premier Stock Up 0.6%

NASDAQ PINC traded up $0.14 during mid-day trading on Thursday, hitting $23.20. The stock had a trading volume of 1,594,453 shares, compared to its average volume of 1,248,559. The company has a 50 day simple moving average of $20.29 and a 200 day simple moving average of $20.70. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -231.98 and a beta of 0.54. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.62%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio (DPR) is 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.