Rhumbline Advisers Cuts Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Rhumbline Advisers reduced its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 5.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Brandes Investment Partners LP lifted its stake in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after buying an additional 464,710 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Premier by 249.8% during the fourth quarter. Quantinno Capital Management LP now owns 405,241 shares of the company's stock worth $8,591,000 after acquiring an additional 289,408 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Premier in the fourth quarter worth $5,275,000. Millennium Management LLC boosted its holdings in shares of Premier by 142.8% in the fourth quarter. Millennium Management LLC now owns 402,566 shares of the company's stock worth $8,534,000 after acquiring an additional 236,787 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Premier in the fourth quarter valued at $4,293,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Premier

In other news, Director John T. Bigalke sold 1,137 shares of the company's 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 completion of the transaction, the director now directly owns 28,673 shares in the company, valued at approximately $660,339.19. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $45,760.00. Following the transaction, the director now directly owns 18,668 shares in the company, valued at approximately $427,123.84. This represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,119 shares of company stock valued at $516,976 over the last 90 days. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PINC shares. Canaccord Genuity Group increased 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. Robert W. Baird upped their price target on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, Piper Sandler raised 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 investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has a consensus rating of "Hold" and a consensus target price of $22.20.

Premier Stock Performance

Premier stock traded down $0.05 during midday trading on Tuesday, hitting $22.25. 1,659,017 shares of the company's stock were exchanged, compared to its average volume of 1,259,626. The company has a market cap of $1.83 billion, a P/E ratio of 39.04 and a beta of 0.57. The stock has a 50-day moving average price of $21.73 and a two-hundred day moving average price of $20.72. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.78%. Premier's dividend payout ratio (DPR) is presently 147.37%.

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.