Premier, Inc. (NASDAQ:PINC) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 88.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 170,723 shares of the company's stock after purchasing an additional 79,971 shares during the period. Crossmark Global Holdings Inc. owned 0.19% of Premier worth $3,292,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. purchased a new stake in Premier during the first quarter worth approximately $914,000. Teacher Retirement System of Texas grew its stake in Premier by 137.3% during the first quarter. Teacher Retirement System of Texas now owns 28,570 shares of the company's stock worth $551,000 after buying an additional 16,531 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Premier by 26.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 403,820 shares of the company's stock worth $7,786,000 after buying an additional 85,234 shares during the period. Exchange Traded Concepts LLC grew its stake in Premier by 19.2% during the first quarter. Exchange Traded Concepts LLC now owns 103,582 shares of the company's stock worth $1,997,000 after buying an additional 16,663 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in Premier during the first quarter worth approximately $917,000. Institutional investors and hedge funds own 74.41% of the company's stock.

Wall Street Analyst Weigh In

PINC has been the subject of several research reports. Piper Sandler boosted their price objective on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Robert W. Baird upped their target price on shares of Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group upped their target price on shares of Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $22.20.

Premier Trading Down 1.8%

NASDAQ PINC traded down $0.38 during trading hours on Friday, reaching $21.08. 970,075 shares of the company traded hands, compared to its average volume of 1,291,343. The company has a 50 day moving average of $22.47 and a two-hundred day moving average of $20.74. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The stock has a market capitalization of $1.74 billion, a PE ratio of 36.98 and a beta of 0.56.

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.98%. Premier's dividend payout ratio (DPR) is presently 147.37%.

Insider Buying and Selling

In other Premier news, Director Helen M. Boudreau sold 2,000 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $22.88, for a total transaction of $45,760.00. Following the transaction, the director owned 18,668 shares of the company's stock, valued at approximately $427,123.84. This trade represents a 9.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total transaction of $26,185.11. Following the transaction, the director directly owned 28,673 shares in the company, valued at approximately $660,339.19. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,119 shares of company stock valued at $321,676 in the last quarter. Company insiders own 0.96% of the company's stock.

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.