WBI Investments LLC Acquires New Stake in Premier, Inc. (NASDAQ:PINC)

WBI Investments LLC acquired a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,398 shares of the company's stock, valued at approximately $454,000.

Several other large investors have also modified their holdings of PINC. Brooklyn Investment Group raised 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 worth $26,000 after purchasing an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. raised 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 worth $27,000 after purchasing an additional 786 shares during the last quarter. Keystone Financial Group Inc. purchased a new stake in shares of Premier during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC raised 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 worth $40,000 after purchasing an additional 1,427 shares during the last quarter. Finally, Van ECK Associates Corp raised 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 worth $43,000 after purchasing an additional 446 shares during the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Stock Performance

NASDAQ:PINC traded down $0.14 during trading hours on Friday, hitting $23.06. The company's stock had a trading volume of 1,190,505 shares, compared to its average volume of 1,246,078. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56. The company has a market capitalization of $1.90 billion, a PE ratio of -230.58 and a beta of 0.54. The business's 50-day moving average is $20.48 and its two-hundred day moving average is $20.71.

Premier Dividend Announcement

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 dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, May 30th. Premier's payout ratio is currently 147.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price target on Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Canaccord Genuity Group upped their price target on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler upped their price target on Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $22.20.

Insider Activity at Premier

In related news, General Counsel David L. Klatsky sold 10,982 shares of the stock in a transaction on 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 now owns 76,093 shares of the company's stock, valued at $1,730,354.82. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 22,119 shares of company stock valued at $464,974 over the last quarter. Insiders own 0.96% of the company's stock.

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.