Jane Street Group LLC Grows Holdings in Premier, Inc. $PINC

Key Points

• Jane Street Group LLC significantly increased its stake in Premier, Inc. by 74.9%, acquiring an additional 244,251 shares, bringing its total ownership to 570,505 shares valued at approximately $10.99 million.
• Other institutional investors also raised their positions in Premier, with Royal Bank of Canada increasing its holdings by 2,482.1% and American Century Companies Inc. growing its stake by 11.3%.
• Premier recently announced a quarterly dividend of $0.21 per share, reflecting an annual yield of 3.2%, despite a high payout ratio of 381.82%.

Jane Street Group LLC boosted its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 74.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 570,505 shares of the company's stock after acquiring an additional 244,251 shares during the quarter. Jane Street Group LLC owned 0.69% of Premier worth $10,999,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in Premier by 2.5% in the 1st quarter. Empowered Funds LLC now owns 508,288 shares of the company's stock worth $9,800,000 after purchasing an additional 12,303 shares in the last quarter. Two Sigma Investments LP bought a new stake in Premier in the 4th quarter worth $892,000. GAMMA Investing LLC lifted its position in shares of Premier by 1,435.4% in the 1st quarter. GAMMA Investing LLC now owns 22,924 shares of the company's stock worth $442,000 after purchasing an additional 21,431 shares during the period. Baird Financial Group Inc. lifted its position in Premier by 1.7% during the 1st quarter. Baird Financial Group Inc. now owns 56,826 shares of the company's stock valued at $1,096,000 after acquiring an additional 972 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Premier by 126.7% in the first quarter. Advisors Asset Management Inc. now owns 224,310 shares of the company's stock worth $4,325,000 after buying an additional 125,365 shares during the last quarter. Institutional investors own 74.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PINC. Bank of America boosted their target price on shares of Premier from $19.00 to $21.00 and gave the company an "underperform" rating in a research report on Tuesday, August 19th. Piper Sandler raised their price target on shares of Premier from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, August 25th. UBS Group raised their price target on shares of Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Robert W. Baird lifted their target price on shares of Premier from $22.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Canaccord Genuity Group boosted their price objective on shares of Premier from $22.00 to $25.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Premier has a consensus rating of "Reduce" and a consensus price target of $25.29.

Premier Stock Performance

Shares of NASDAQ PINC traded down $0.67 during mid-day trading on Friday, reaching $25.75. 5,856,522 shares of the company traded hands, compared to its average volume of 1,428,737. The company's fifty day moving average is $24.06 and its two-hundred day moving average is $21.99. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $28.79. The stock has a market cap of $2.13 billion, a PE ratio of 117.05 and a beta of 0.61.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, August 29th. Premier's dividend payout ratio is currently 381.82%.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 3,349 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $25.57, for a total transaction of $85,633.93. Following the completion of the transaction, the general counsel directly owned 97,257 shares of the company's stock, valued at approximately $2,486,861.49. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andy Brailo sold 6,521 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total value of $168,176.59. Following the transaction, the insider owned 99,447 shares in the company, valued at approximately $2,564,738.13. This trade represents a 6.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,326 shares of company stock worth $317,230. 0.96% of the stock is owned by corporate insiders.

Premier 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.