Jane Street Group LLC Raises Holdings in Premier, Inc. (NASDAQ:PINC)

Jane Street Group LLC increased its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 126.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 326,254 shares of the company's stock after buying an additional 182,451 shares during the quarter. Jane Street Group LLC owned 0.34% of Premier worth $6,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PINC. Brandes Investment Partners LP lifted its holdings in shares of Premier by 123.1% during the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock worth $17,857,000 after purchasing an additional 464,710 shares during the period. Franklin Resources Inc. bought a new stake in shares of Premier in the 4th quarter valued at about $5,275,000. Assenagon Asset Management S.A. increased its stake in shares of Premier by 109.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company's stock valued at $9,933,000 after buying an additional 245,239 shares during the period. Invesco Ltd. raised its position in shares of Premier by 23.6% during the fourth quarter. Invesco Ltd. now owns 719,597 shares of the company's stock worth $15,255,000 after acquiring an additional 137,306 shares during the last quarter. Finally, ExodusPoint Capital Management LP lifted its stake in shares of Premier by 408.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 169,458 shares of the company's stock worth $3,593,000 after acquiring an additional 136,129 shares during the period. Institutional investors own 74.41% of the company's stock.

Premier Stock Down 2.3%

Premier stock traded down $0.52 during midday trading on Wednesday, hitting $22.34. 535,352 shares of the stock were exchanged, compared to its average volume of 1,423,181. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56. The business's 50-day moving average price is $19.72 and its 200-day moving average price is $20.59. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -223.38 and a beta of 0.54.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.76%. Premier's dividend payout ratio is currently 147.37%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PINC shares. Canaccord Genuity Group raised their price target on shares of Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Piper Sandler lowered their price objective on Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Finally, Robert W. Baird cut their target price on Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.60.

Insider Buying and Selling at Premier

In other news, General Counsel David L. Klatsky sold 10,982 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the transaction, the general counsel now directly owns 76,093 shares of the company's stock, valued at $1,730,354.82. This represents a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 22,119 shares of company stock worth $464,974 in the last quarter. 0.96% of the stock is currently owned by company insiders.

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.