Guggenheim Capital LLC Reduces Holdings in Premier, Inc. (NASDAQ:PINC)

Guggenheim Capital LLC decreased its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,749 shares of the company's stock after selling 16,133 shares during the period. Guggenheim Capital LLC's holdings in Premier were worth $419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PINC. Brooklyn Investment Group boosted its stake in Premier by 61,750.0% during the 4th 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 period. SRS Capital Advisors Inc. increased its position in Premier by 157.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after acquiring an additional 786 shares during the period. Keystone Financial Group Inc. acquired a new stake in Premier during the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Premier in the third quarter valued at approximately $39,000. Finally, 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. Hedge funds and other institutional investors own 74.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PINC shares. Canaccord Genuity Group reduced their target price on shares of Premier from $21.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, February 5th. Robert W. Baird reduced their price objective on shares of Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average price target of $20.17.

Insider Activity at Premier

In other news, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.96% of the stock is currently owned by company insiders.

Premier Stock Performance

PINC traded down $0.04 on Wednesday, hitting $20.35. 776,502 shares of the company were exchanged, compared to its average volume of 1,261,712. 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 $1.86 billion, a P/E ratio of -203.48 and a beta of 0.51. The business's fifty day moving average is $18.93 and its 200 day moving average is $20.44.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio is currently -840.00%.

About Premier

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.