11,746 Shares in Premier, Inc. (NASDAQ:PINC) Purchased by Ethic Inc.

Ethic Inc. purchased a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,746 shares of the company's stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PINC. Northern Trust Corp raised its position in shares of Premier by 20.5% during the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company's stock worth $15,725,000 after acquiring an additional 126,217 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Premier in the fourth quarter valued at approximately $386,000. Steward Partners Investment Advisory LLC purchased a new position in Premier in the fourth quarter valued at approximately $554,000. KBC Group NV increased its stake in 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 purchasing an additional 1,542 shares during the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in Premier during the fourth quarter worth approximately $248,000. Hedge funds and other institutional investors own 74.41% of the company's stock.

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 dated Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total transaction of $249,730.68. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 22,119 shares of company stock worth $464,974. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Premier Stock Performance

PINC stock traded down $0.04 on Wednesday, reaching $23.06. The company had a trading volume of 1,305,686 shares, compared to its average volume of 1,246,635. The company's fifty day moving average is $20.19 and its 200 day moving average is $20.69. The company has a market cap of $1.90 billion, a P/E ratio of -230.58 and a beta of 0.54. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56.

Premier Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, May 30th. Premier's payout ratio is currently 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.