WBI Investments LLC Buys Shares of 21,398 Premier, Inc. (NASDAQ:PINC)

WBI Investments LLC bought a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,398 shares of the company's stock, valued at approximately $454,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group boosted its stake in shares of Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after purchasing an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after purchasing an additional 786 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Premier during the fourth quarter valued at about $37,000. Smartleaf Asset Management LLC boosted its stake in shares of Premier by 297.9% during 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 in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock valued at $43,000 after purchasing an additional 446 shares in the last quarter. Institutional investors own 74.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PINC shares. Piper Sandler cut their price target on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Robert W. Baird lifted their price target on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group lifted their price target on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $21.20.

Premier Price Performance

Premier stock opened at $23.11 on Tuesday. The stock's 50 day moving average is $20.09 and its 200 day moving average is $20.67. The firm has a market cap of $1.90 billion, a P/E ratio of -231.08 and a beta of 0.54. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, May 30th. Premier's dividend payout ratio is currently 147.37%.

Insider Buying and Selling

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the sale, the general counsel now directly owns 76,093 shares in the company, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 22,119 shares of company stock valued at $464,974 over the last ninety days. 0.96% of the stock is owned by company insiders.

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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