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

Teacher Retirement System of Texas boosted its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 137.3% in the 1st quarter, according to the company in its most recent 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 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in Premier by 40.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock valued at $93,000 after acquiring an additional 1,257 shares during the last quarter. Sterling Capital Management LLC grew its position in Premier by 44.5% in the fourth quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock worth $122,000 after acquiring an additional 1,767 shares during the period. Alliancebernstein L.P. grew its position in Premier by 3.0% in the fourth quarter. Alliancebernstein L.P. now owns 61,575 shares of the company's stock worth $1,305,000 after acquiring an additional 1,781 shares during the period. Vise Technologies Inc. grew its position in Premier by 20.9% in the fourth quarter. Vise Technologies Inc. now owns 13,238 shares of the company's stock worth $281,000 after acquiring an additional 2,286 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in Premier in the fourth quarter worth approximately $52,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Canaccord Genuity Group increased their price objective on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Robert W. Baird raised their price target on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Piper Sandler raised their price target on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $22.20.

Insiders Place Their Bets

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the sale, the general counsel owned 76,093 shares in the company, valued at $1,730,354.82. This represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Helen M. Boudreau sold 2,000 shares of the company's stock in a transaction that occurred 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 directly owned 18,668 shares of the company's stock, valued at $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 have sold a total of 14,119 shares of company stock worth $321,676 in the last quarter. 0.96% of the stock is owned by company insiders.

Premier Stock Performance

Shares of PINC traded down $0.12 during midday trading on Friday, hitting $20.95. 1,280,781 shares of the stock were exchanged, compared to its average volume of 1,304,565. The firm has a market cap of $1.73 billion, a P/E ratio of 36.76 and a beta of 0.56. The stock has a fifty day simple moving average of $22.37 and a 200 day simple moving average of $20.72. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were issued a dividend of $0.21 per share. The ex-dividend date 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%.

Premier Company 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.