Premier, Inc. (NASDAQ:PINC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 794,099 shares of the company's stock after selling 20,659 shares during the period. Bank of America Corp DE owned about 0.83% of Premier worth $16,835,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Premier by 162.1% during the 4th quarter. BNP Paribas Financial Markets now owns 74,863 shares of the company's stock valued at $1,587,000 after purchasing an additional 46,302 shares during the last quarter. Jane Street Group LLC increased its position in shares of Premier by 126.9% during the fourth quarter. Jane Street Group LLC now owns 326,254 shares of the company's stock worth $6,917,000 after acquiring an additional 182,451 shares during the period. AdvisorShares Investments LLC purchased a new position in shares of Premier during the fourth quarter worth approximately $470,000. Northern Trust Corp increased its position in shares of Premier by 20.5% during the fourth 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 during the period. Finally, Aquatic Capital Management LLC increased its position in shares of Premier by 98.1% during the fourth quarter. Aquatic Capital Management LLC now owns 28,124 shares of the company's stock worth $596,000 after acquiring an additional 13,924 shares during the period. 74.41% of the stock is currently owned by institutional investors.

Insider Activity at Premier

In related news, General Counsel David L. Klatsky sold 10,982 shares of the 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 completion of the sale, the general counsel now owns 76,093 shares of the company's stock, valued at $1,730,354.82. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 22,119 shares of company stock valued at $464,974 over the last 90 days. Insiders own 0.96% of the company's stock.

Premier Trading Down 0.6%

Shares of PINC traded down $0.14 during mid-day trading on Friday, hitting $23.06. The company's stock had a trading volume of 1,190,505 shares, compared to its average volume of 1,246,230. The company's 50-day moving average is $20.39 and its 200-day moving average is $20.72. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -230.58 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.64%. Premier's payout ratio is 147.37%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Piper Sandler raised their target price on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.20.

Premier Company 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.