Premier, Inc. $PINC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Premier, Inc. by 3.0%, selling 175,511 shares and now holding approximately 5,707,633 shares valued at $110,042,000.
• Directors Helen M. Boudreau and John T. Bigalke recently sold shares of the company, decreasing their ownership positions by 9.68% and 3.81% respectively.
• Premier announced a quarterly dividend of $0.21 per share to be paid on September 15, representing a 3.3% dividend yield.

Dimensional Fund Advisors LP decreased its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,707,633 shares of the company's stock after selling 175,511 shares during the period. Dimensional Fund Advisors LP owned about 6.25% of Premier worth $110,042,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Premier by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock worth $93,000 after purchasing an additional 1,257 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Premier in the fourth quarter valued at approximately $286,000. Mariner LLC purchased a new stake in Premier during the 4th quarter worth approximately $282,000. Marshall Wace LLP lifted its holdings in Premier by 134.2% during the 4th quarter. Marshall Wace LLP now owns 64,923 shares of the company's stock worth $1,376,000 after buying an additional 37,196 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Premier by 54.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 212,172 shares of the company's stock valued at $4,496,000 after buying an additional 74,920 shares during the period. 74.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Premier

In other news, Director Helen M. Boudreau sold 2,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the transaction, the director owned 18,668 shares in the company, valued at approximately $427,123.84. This represents a 9.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John T. Bigalke sold 1,137 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $23.03, for a total transaction of $26,185.11. Following the completion of the sale, the director directly owned 28,673 shares of the company's stock, valued at approximately $660,339.19. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company's stock.

Premier Stock Performance

Shares of NASDAQ PINC opened at $25.14 on Friday. The stock's 50-day simple moving average is $22.30 and its 200-day simple moving average is $20.90. The firm has a market capitalization of $2.07 billion, a PE ratio of 114.28 and a beta of 0.56. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $27.26.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, August 29th. Premier's payout ratio is currently 381.82%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PINC. UBS Group upped their price objective on Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday. Bank of America boosted their target price on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research note on Tuesday. Piper Sandler increased their price target on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Leerink Partners lifted their price objective on Premier from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday. Finally, 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 research note on Wednesday. Eight analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $24.00.

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.

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