OLD National Bancorp IN Takes Position in Premier, Inc. (NASDAQ:PINC)

OLD National Bancorp IN purchased a new position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,140 shares of the company's stock, valued at approximately $234,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. raised its holdings in Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after buying an additional 786 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Premier by 297.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after acquiring an additional 1,427 shares during the period. Van ECK Associates Corp increased its stake in Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock valued at $43,000 after purchasing an additional 446 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Premier during the fourth quarter worth about $52,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Premier in the fourth quarter valued at approximately $82,000. Institutional investors own 74.41% of the company's stock.

Premier Stock Down 0.4%

PINC traded down $0.10 during trading on Thursday, hitting $22.40. 237,609 shares of the company traded hands, compared to its average volume of 1,255,271. The firm has a market cap of $1.84 billion, a P/E ratio of -223.98 and a beta of 0.57. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56. The stock's fifty day moving average is $21.48 and its 200 day moving average is $20.75.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio (DPR) is presently 147.37%.

Insiders Place Their Bets

In other news, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the general counsel now directly owns 90,597 shares of the company's stock, valued at $1,769,359.41. This trade represents a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the sale, the director now directly owns 28,673 shares in the company, valued at $660,339.19. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,119 shares of company stock worth $516,976 over the last quarter. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Robert W. Baird boosted 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. Finally, Piper Sandler increased their price objective on shares of Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier presently has an average rating of "Hold" and an average price target 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.