Swiss National Bank Has $3.59 Million Stock Position in Premier, Inc. $PINC

Key Points

• The Swiss National Bank reduced its stake in Premier, Inc. by 5.6%, owning approximately $3.59 million worth of stock after selling 11,000 shares.
• Premier recently declared a quarterly dividend of $0.21 per share, with an annualized yield of 3.3%, despite having a relatively high payout ratio of 147.37%.
• Research analysts have adjusted their price targets for Premier, with estimates ranging from $21.00 to $27.00, while the consensus rating remains a "Hold."

Swiss National Bank lowered its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 186,112 shares of the company's stock after selling 11,000 shares during the quarter. Swiss National Bank owned about 0.20% of Premier worth $3,588,000 as of its most recent SEC filing.

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

Premier Stock Down 2.5%

Premier stock opened at $25.55 on Thursday. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $27.26. The business's 50-day moving average price is $22.18 and its two-hundred day moving average price is $20.84. The stock has a market cap of $2.10 billion, a PE ratio of 116.14 and a beta of 0.56.

Premier Announces Dividend

The company 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 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 147.37%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on PINC shares. Canaccord Genuity Group boosted their price target on Premier from $22.00 to $25.00 and gave the company a "hold" rating in a research note on Wednesday. UBS Group boosted their price target on Premier from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday. Leerink Partners boosted their price target on Premier from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday. Bank of America boosted their price target on Premier from $19.00 to $21.00 and gave the company an "underperform" rating in a research note on Tuesday. Finally, Robert W. Baird boosted their price target on Premier from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus 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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