Invesco Ltd. Buys 41,342 Shares of Premier, Inc. $PINC

Key Points

• Invesco Ltd. has increased its stake in Premier, Inc. by 5.7% during the 1st quarter, acquiring an additional 41,342 shares, bringing its total to approximately 760,939 shares valued at $14.67 million.
• Premier's stock recently opened at $25.14 and has seen a year high of $27.26 and a year low of $17.23, with a market cap of $2.07 billion.
• The company announced a quarterly dividend of $0.21 per share to be paid on September 15th, representing an annualized yield of 3.3% with a dividend payout ratio of 381.82%.

Invesco Ltd. raised its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,939 shares of the company's stock after purchasing an additional 41,342 shares during the quarter. Invesco Ltd. owned 0.83% of Premier worth $14,671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINC. Quantinno Capital Management LP increased its stake in Premier by 249.8% during the 4th quarter. Quantinno Capital Management LP now owns 405,241 shares of the company's stock valued at $8,591,000 after purchasing an additional 289,408 shares in the last quarter. Millennium Management LLC increased its stake in Premier by 142.8% during the 4th quarter. Millennium Management LLC now owns 402,566 shares of the company's stock valued at $8,534,000 after purchasing an additional 236,787 shares in the last quarter. New Age Alpha Advisors LLC increased its stake in Premier by 5,893.3% during the 1st quarter. New Age Alpha Advisors LLC now owns 231,523 shares of the company's stock valued at $4,464,000 after purchasing an additional 227,660 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Premier during the 4th quarter valued at $4,293,000. Finally, Clark Capital Management Group Inc. bought a new stake in Premier during the 4th quarter valued at $4,017,000. Institutional investors own 74.41% of the company's stock.

Premier Trading Up 0.1%

Shares of NASDAQ:PINC traded up $0.02 during midday trading on Thursday, reaching $26.27. The company had a trading volume of 1,116,830 shares, compared to its average volume of 1,971,608. The company's 50 day moving average price is $22.60 and its 200 day moving average price is $21.10. The stock has a market cap of $2.16 billion, a P/E ratio of 119.41 and a beta of 0.56. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $27.26.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Premier's payout ratio is 381.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PINC shares. UBS Group lifted their price objective on shares of Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Bank of America lifted their price objective on shares of Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Tuesday, August 19th. Piper Sandler lifted their price objective on shares of Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday. Robert W. Baird lifted their price objective on shares of Premier from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Premier from $22.00 to $25.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $24.50.

Insider Buying and Selling

In related news, Director John T. Bigalke sold 1,137 shares of the business'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 sale, the director directly owned 28,673 shares in the company, valued at approximately $660,339.19. The trade was a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Helen M. Boudreau sold 2,000 shares of the company'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 sale, the director owned 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. In the last ninety days, insiders have sold 7,805 shares of company stock valued at $191,675. 0.96% of the stock is owned by insiders.

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.