Nuveen Asset Management LLC Lowers Stake in Premier, Inc. (NASDAQ:PINC)

Nuveen Asset Management LLC decreased its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,399 shares of the company's stock after selling 21,079 shares during the period. Nuveen Asset Management LLC owned about 0.19% of Premier worth $3,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PINC. Barclays PLC raised its stake in Premier by 32.2% in the third quarter. Barclays PLC now owns 154,128 shares of the company's stock worth $3,081,000 after buying an additional 37,551 shares in the last quarter. KBC Group NV raised its stake in Premier by 38.1% in the fourth quarter. KBC Group NV now owns 5,589 shares of the company's stock worth $118,000 after buying an additional 1,542 shares in the last quarter. Caprock Group LLC purchased a new position in Premier in the fourth quarter worth $292,000. Keystone Financial Group Inc. purchased a new position in Premier in the fourth quarter worth $37,000. Finally, Empowered Funds LLC grew its holdings in Premier by 15.9% in the fourth quarter. Empowered Funds LLC now owns 495,985 shares of the company's stock worth $10,515,000 after purchasing an additional 67,909 shares during the last quarter. Institutional investors own 74.41% of the company's stock.

Insider Activity at Premier

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of the company's stock in a transaction 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 sale, the general counsel now directly owns 76,093 shares of the company's stock, valued at approximately $1,730,354.82. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helen M. Boudreau sold 2,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the sale, the director now directly owns 18,668 shares in the company, valued at approximately $427,123.84. The trade was a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,982 shares of company stock valued at $490,791 in the last ninety days. Company insiders own 0.96% of the company's stock.

Premier Stock Performance

Shares of NASDAQ PINC traded up $0.11 during mid-day trading on Wednesday, hitting $23.17. The stock had a trading volume of 1,395,874 shares, compared to its average volume of 1,263,037. The company has a 50 day moving average of $21.13 and a two-hundred day moving average of $20.73. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.56. The firm has a market cap of $1.91 billion, a PE ratio of -231.68 and a beta of 0.54.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, May 30th. Premier's payout ratio is 147.37%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PINC. Robert W. Baird lifted their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Canaccord Genuity Group lifted their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler lifted their price target on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has an average rating of "Hold" and an average target price of $22.20.

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.