Advisors Asset Management Inc. Acquires 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. lifted its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 126.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,310 shares of the company's stock after buying an additional 125,365 shares during the quarter. Advisors Asset Management Inc. owned about 0.25% of Premier worth $4,325,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PINC. Vestcor Inc purchased a new stake in shares of Premier during the 1st quarter valued at approximately $125,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Premier during the 1st quarter valued at approximately $125,000. Versant Capital Management Inc lifted its stake in shares of Premier by 97.6% during the 1st quarter. Versant Capital Management Inc now owns 7,719 shares of the company's stock valued at $149,000 after buying an additional 3,813 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Premier by 16.7% during the 1st quarter. Neuberger Berman Group LLC now owns 11,183 shares of the company's stock worth $216,000 after acquiring an additional 1,604 shares during the period. Finally, Cooper Financial Group bought a new stake in Premier during the 1st quarter worth approximately $221,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Premier Trading Up 4.9%

Shares of NASDAQ:PINC traded up $1.26 during trading on Monday, reaching $27.11. The company had a trading volume of 4,984,630 shares, compared to its average volume of 1,777,500. The company has a fifty day moving average of $23.19 and a two-hundred day moving average of $21.52. The stock has a market capitalization of $2.24 billion, a P/E ratio of 123.23 and a beta of 0.61. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $28.79.

Premier Announces Dividend

The business also recently declared 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 of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. Premier's dividend payout ratio is presently 381.82%.

Insider Transactions at Premier

In related news, insider Andy Brailo sold 6,521 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $168,176.59. Following the transaction, the insider owned 99,447 shares of the company's stock, valued at approximately $2,564,738.13. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Bigalke sold 1,137 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.79, for a total transaction of $29,323.23. Following the transaction, the director directly owned 27,536 shares in the company, valued at approximately $710,153.44. This represents a 3.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $317,230 in the last quarter. Insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Canaccord Genuity Group upped their target price on shares of Premier from $22.00 to $25.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. Leerink Partners upped their target price on shares of Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, August 19th. Piper Sandler upped their target price on shares of Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. Finally, Bank of America upped their target price on shares of Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Tuesday, August 19th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Premier has an average rating of "Reduce" and an average price target of $24.50.

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.