Advisors Asset Management Inc. Buys 125,365 Shares of Premier, Inc. $PINC

Key Points

• Advisors Asset Management Inc. increased its stake in Premier, Inc. by 126.7% during the first quarter, acquiring a total of 224,310 shares.
• PINC announced a quarterly dividend of $0.21 per share, with a record date of September 1st and an ex-dividend date of August 29th, resulting in an annualized yield of 3.2%.
• PINC stock recently opened at $25.85 and has seen a 12-month low of $17.23 and a high of $27.26, with a market capitalization of $2.13 billion.

Advisors Asset Management Inc. boosted its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 126.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 224,310 shares of the company's stock after buying an additional 125,365 shares during the period. Advisors Asset Management Inc. owned approximately 0.25% of Premier worth $4,325,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PINC. Royal Bank of Canada grew its holdings in shares of Premier by 2,482.1% during the first quarter. Royal Bank of Canada now owns 461,445 shares of the company's stock worth $8,896,000 after purchasing an additional 443,574 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Premier in the first quarter valued at approximately $6,414,000. American Century Companies Inc. lifted its position in Premier by 11.3% during the first quarter. American Century Companies Inc. now owns 2,891,710 shares of the company's stock valued at $55,752,000 after purchasing an additional 292,979 shares during the last quarter. Quantinno Capital Management LP grew its stake in Premier by 249.8% in the 4th quarter. Quantinno Capital Management LP now owns 405,241 shares of the company's stock worth $8,591,000 after buying an additional 289,408 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Premier by 74.9% in the 1st quarter. Jane Street Group LLC now owns 570,505 shares of the company's stock worth $10,999,000 after buying an additional 244,251 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Premier news, insider Andy Brailo sold 6,521 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total value of $168,176.59. Following the transaction, the insider owned 99,447 shares in the company, valued at approximately $2,564,738.13. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David L. Klatsky sold 3,349 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $25.57, for a total transaction of $85,633.93. Following the transaction, the general counsel directly owned 97,257 shares of the company's stock, valued at approximately $2,486,861.49. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,326 shares of company stock valued at $317,230 over the last three months. 0.96% of the stock is owned by company insiders.

Premier Stock Performance

PINC stock traded up $0.01 during trading on Thursday, hitting $26.81. 1,709,996 shares of the company traded hands, compared to its average volume of 1,886,671. The company has a 50-day moving average of $23.49 and a 200-day moving average of $21.65. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $28.79. The firm has a market capitalization of $2.21 billion, a PE ratio of 121.87 and a beta of 0.61.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.1%. Premier's dividend payout ratio (DPR) is currently 381.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Premier from $22.00 to $25.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. UBS Group raised their price target on Premier from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Leerink Partners upped their price objective on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, August 19th. Piper Sandler raised their price objective on Premier from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, August 25th. Finally, Robert W. Baird boosted their target price on Premier from $22.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $25.29.

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.