Teacher Retirement System of Texas Increases Position in Premier, Inc. (NASDAQ:PINC)

Teacher Retirement System of Texas increased its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 137.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,570 shares of the company's stock after buying an additional 16,531 shares during the period. Teacher Retirement System of Texas' holdings in Premier were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantinno Capital Management LP raised its position in Premier by 249.8% during the fourth 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. Franklin Resources Inc. bought a new stake in shares of Premier during the fourth quarter worth $5,275,000. Millennium Management LLC grew its stake 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Premier during the fourth quarter worth $4,293,000. Finally, Clark Capital Management Group Inc. bought a new stake in shares of Premier during the fourth quarter worth $4,017,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Performance

Shares of NASDAQ PINC traded down $0.12 during trading on Friday, hitting $20.95. 1,281,897 shares of the company traded hands, compared to its average volume of 1,308,573. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 36.76 and a beta of 0.56. The business's fifty day moving average is $22.33 and its 200 day moving average is $20.71.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 4.01%. Premier's dividend payout ratio (DPR) is 147.37%.

Insider Buying and Selling at Premier

In other Premier news, Director Helen M. Boudreau sold 2,000 shares of the 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 completion of the sale, the director owned 18,668 shares in the company, valued at approximately $427,123.84. This trade represents a 9.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John T. Bigalke sold 1,137 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total transaction of $26,185.11. Following the sale, the director owned 28,673 shares of the company's stock, valued at approximately $660,339.19. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,119 shares of company stock worth $321,676. Insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PINC shares. Piper Sandler boosted their target price on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Canaccord Genuity Group boosted their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Robert W. Baird upped their price target on shares of Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.20.

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.