First Trust Advisors LP Has $75.78 Million Position in Premier, Inc. (NASDAQ:PINC)

First Trust Advisors LP decreased its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,574,378 shares of the company's stock after selling 368,133 shares during the quarter. First Trust Advisors LP owned approximately 3.72% of Premier worth $75,777,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its stake in Premier by 54.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 212,172 shares of the company's stock worth $4,496,000 after buying an additional 74,920 shares during the period. Marshall Wace LLP increased its position in shares of Premier by 134.2% in the 4th quarter. Marshall Wace LLP now owns 64,923 shares of the company's stock worth $1,376,000 after purchasing an additional 37,196 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Premier by 61.4% in the 4th quarter. XTX Topco Ltd now owns 49,697 shares of the company's stock valued at $1,054,000 after buying an additional 18,902 shares during the period. Mariner LLC acquired a new position in shares of Premier in the 4th quarter valued at about $282,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Premier by 44.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock valued at $122,000 after buying an additional 1,767 shares during the period. Hedge funds and other institutional investors own 74.41% of the company's stock.

Insider Buying and Selling at Premier

In related news, General Counsel David L. Klatsky sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now directly owns 90,597 shares in the company, valued at $1,769,359.41. The trade was a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.96% of the company's stock.

Premier Trading Up 0.5 %

NASDAQ PINC traded up $0.10 during trading on Friday, hitting $20.09. 816,069 shares of the company traded hands, compared to its average volume of 1,265,219. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The business has a fifty day simple moving average of $18.87 and a 200 day simple moving average of $20.43. The company has a market capitalization of $1.83 billion, a P/E ratio of -200.88 and a beta of 0.51.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 4.18%. Premier's dividend payout ratio (DPR) is currently -840.00%.

Analysts Set New Price Targets

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

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.