Robeco Institutional Asset Management B.V. Grows Stake in Premier, Inc. (NASDAQ:PINC)

Robeco Institutional Asset Management B.V. lifted its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 26.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 403,820 shares of the company's stock after purchasing an additional 85,234 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.44% of Premier worth $7,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of Premier in the 4th quarter valued at $353,000. Illinois Municipal Retirement Fund grew its position in Premier by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 58,214 shares of the company's stock worth $1,234,000 after purchasing an additional 2,072 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Premier by 297.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after purchasing an additional 1,427 shares during the period. SRS Capital Advisors Inc. raised its holdings in shares of Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after buying an additional 786 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Premier in the fourth quarter valued at about $554,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Premier Stock Performance

NASDAQ:PINC traded down $0.20 during mid-day trading on Tuesday, reaching $21.73. The stock had a trading volume of 1,980,066 shares, compared to its average volume of 1,280,786. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.56. The business has a 50 day simple moving average of $22.19 and a 200 day simple moving average of $20.71. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 38.12 and a beta of 0.56.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Friday, May 30th. Premier's dividend payout ratio (DPR) is 147.37%.

Insider Activity

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total transaction of $249,730.68. Following the sale, the general counsel directly owned 76,093 shares in the company, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen M. Boudreau sold 2,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the transaction, the director directly owned 18,668 shares in the company, valued at approximately $427,123.84. This trade represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,119 shares of company stock valued at $516,976 in the last three months. 0.96% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PINC shares. Canaccord Genuity Group raised their price target 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 lifted their target price on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Piper Sandler upped their price target on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Premier has an average rating of "Hold" and an average target price of $22.20.

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.