Russell Investments Group Ltd. Raises Stock Holdings in Premier, Inc. $PINC

Key Points

• Russell Investments Group Ltd. increased its stake in Premier, Inc. by 518.1% during the first quarter, owning 27,016 shares valued at approximately $521,000.
• A recent quarterly dividend of $0.21 will be paid to shareholders on September 15th, representing an annual yield of 3.2%.
• Premier, Inc. stock has seen price target increases from various analysts, with a current consensus rating of "Reduce" and an average price target of $24.50.

Russell Investments Group Ltd. raised its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 518.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,016 shares of the company's stock after acquiring an additional 22,645 shares during the period. Russell Investments Group Ltd.'s holdings in Premier were worth $521,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PINC. Quantinno Capital Management LP lifted 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 acquiring an additional 289,408 shares in the last quarter. Millennium Management LLC raised its stake in shares of Premier by 142.8% during the 4th quarter. Millennium Management LLC now owns 402,566 shares of the company's stock worth $8,534,000 after purchasing an additional 236,787 shares during the period. New Age Alpha Advisors LLC raised its stake in shares of Premier by 5,893.3% during the 1st quarter. New Age Alpha Advisors LLC now owns 231,523 shares of the company's stock worth $4,464,000 after purchasing an additional 227,660 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Premier during the 4th quarter worth $4,293,000. Finally, Clark Capital Management Group Inc. bought a new stake in shares of Premier during the 4th quarter worth $4,017,000. 74.41% of the stock is currently owned by institutional investors.

Insider Activity at Premier

In other news, General Counsel David L. Klatsky sold 3,349 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $25.57, for a total transaction of $85,633.93. Following the completion of the transaction, the general counsel owned 97,257 shares of the company's stock, valued at approximately $2,486,861.49. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.96% of the company's stock.

Premier Stock Up 1.7%

Premier stock traded up $0.43 during midday trading on Thursday, reaching $26.02. The stock had a trading volume of 405,349 shares, compared to its average volume of 1,606,543. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $27.26. The firm's 50-day moving average price is $22.91 and its 200 day moving average price is $21.31. The firm has a market capitalization of $2.15 billion, a PE ratio of 118.32 and a beta of 0.61.

Premier Announces Dividend

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

Wall Street Analyst Weigh In

PINC has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Premier from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Piper Sandler lifted their target price on Premier from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Bank of America lifted their target price on Premier from $19.00 to $21.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 19th. Leerink Partners lifted their target price on Premier from $24.00 to $26.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 19th. Finally, Robert W. Baird boosted their price objective on Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. 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, the stock presently has an average rating of "Reduce" and a consensus price target of $24.50.

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.