Rhumbline Advisers Decreases Stake in Premier, Inc. (NASDAQ:PINC)

Rhumbline Advisers lessened its stake in Premier, Inc. (NASDAQ:PINC - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 255,002 shares of the company's stock after selling 15,746 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Premier worth $4,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its stake in Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after purchasing an additional 786 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after purchasing an additional 1,427 shares during the period. Van ECK Associates Corp increased its stake in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after purchasing an additional 446 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Premier during the fourth quarter worth approximately $52,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Premier during the fourth quarter worth approximately $82,000. Hedge funds and other institutional investors own 74.41% of the company's stock.

Premier Price Performance

Shares of NASDAQ PINC traded up $0.04 during trading on Friday, hitting $22.57. 1,337,662 shares of the company were exchanged, compared to its average volume of 1,258,568. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -225.68 and a beta of 0.57. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The firm's fifty day moving average price is $21.62 and its 200 day moving average price is $20.74.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, May 30th. Premier's dividend payout ratio (DPR) is presently 147.37%.

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 10,982 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the transaction, the general counsel now owns 76,093 shares of the company's stock, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of Premier stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total value of $26,185.11. Following the completion of the sale, the director now owns 28,673 shares of the company's stock, 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 valued at $516,976 in the last 90 days. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PINC shares. Robert W. Baird increased their price target 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. 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. Finally, Piper Sandler lifted their price objective on shares of Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Premier currently has a consensus rating of "Hold" and a consensus price target 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.