Lazard Asset Management LLC Buys 31,982 Shares of Premier, Inc. (NASDAQ:PINC)

Lazard Asset Management LLC boosted its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,365 shares of the company's stock after buying an additional 31,982 shares during the quarter. Lazard Asset Management LLC owned approximately 0.11% of Premier worth $2,297,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group grew its position in Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock worth $26,000 after buying an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after purchasing an additional 786 shares during the last quarter. Keystone Financial Group Inc. bought a new position in Premier during the 4th quarter worth $37,000. Smartleaf Asset Management LLC raised its position in Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after purchasing an additional 1,427 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after purchasing an additional 446 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company's stock.

Insider Buying and Selling at Premier

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of Premier 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 transaction, the general counsel now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 22,119 shares of company stock worth $464,974. Insiders own 0.96% of the company's stock.

Premier Stock Down 0.6%

PINC stock traded down $0.14 during mid-day trading on Friday, reaching $23.06. 1,190,505 shares of the company traded hands, compared to its average volume of 1,246,230. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -230.58 and a beta of 0.54. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The firm's 50 day moving average price is $20.48 and its 200 day moving average price is $20.73.

Premier Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 3.64%. Premier's dividend payout ratio (DPR) is currently 147.37%.

Analyst Ratings Changes

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

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.