Crossmark Global Holdings Inc. Increases Stake in Premier, Inc. (NASDAQ:PINC)

Crossmark Global Holdings Inc. boosted its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 88.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,723 shares of the company's stock after acquiring an additional 79,971 shares during the quarter. Crossmark Global Holdings Inc. owned 0.19% of Premier worth $3,292,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PINC. American Century Companies Inc. increased its stake in Premier by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company's stock valued at $55,093,000 after purchasing an additional 104,452 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Premier by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company's stock worth $38,444,000 after purchasing an additional 71,624 shares during the period. Brandes Investment Partners LP grew its holdings in Premier by 123.1% in the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock worth $17,857,000 after buying an additional 464,710 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Premier by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company's stock valued at $16,162,000 after purchasing an additional 21,861 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Premier by 20.5% during the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company's stock worth $15,725,000 after acquiring an additional 126,217 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company's stock.

Premier Trading Down 1.8%

Shares of PINC stock traded down $0.38 during trading hours on Friday, hitting $21.08. 970,075 shares of the company were exchanged, compared to its average volume of 1,293,582. The firm has a fifty day simple moving average of $22.48 and a 200 day simple moving average of $20.73. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 36.98 and a beta of 0.56.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Friday, May 30th. Premier's payout ratio is currently 147.37%.

Insider Buying and Selling

In other news, Director John T. Bigalke sold 1,137 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the transaction, the director owned 28,673 shares in the company, valued at approximately $660,339.19. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Helen M. Boudreau sold 2,000 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 18,668 shares of the company's stock, valued at $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 14,119 shares of company stock valued at $321,676 over the last quarter. Corporate insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PINC shares. Robert W. Baird increased their price objective on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Piper Sandler lifted their target price 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. Finally, Canaccord Genuity Group upped their price objective on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.