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

AQR Capital Management LLC decreased its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 29.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 995,906 shares of the company's stock after selling 422,267 shares during the period. AQR Capital Management LLC owned 1.04% of Premier worth $21,113,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AdvisorShares Investments LLC bought a new position in shares of Premier during the fourth quarter valued at approximately $470,000. Northern Trust Corp increased its holdings in shares of Premier by 20.5% in the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company's stock valued at $15,725,000 after acquiring an additional 126,217 shares during the period. Aquatic Capital Management LLC raised its position in shares of Premier by 98.1% in the 4th quarter. Aquatic Capital Management LLC now owns 28,124 shares of the company's stock worth $596,000 after acquiring an additional 13,924 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of Premier during the 4th quarter worth $257,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Premier by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,899 shares of the company's stock valued at $1,376,000 after purchasing an additional 3,959 shares during the last quarter. Institutional investors own 74.41% of the company's stock.

Premier Stock Up 0.8 %

Shares of PINC stock traded up $0.18 during trading hours on Thursday, hitting $23.30. 1,405,438 shares of the company's stock were exchanged, compared to its average volume of 1,251,075. 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 cap of $2.13 billion, a P/E ratio of -232.93 and a beta of 0.54. The firm has a 50 day moving average of $19.29 and a two-hundred day moving average of $20.50.

Premier Announces Dividend

The business also recently disclosed 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. This represents a $0.84 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Friday, May 30th. Premier's payout ratio is -840.00%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PINC shares. Piper Sandler lowered their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Robert W. Baird reduced their price target on Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group raised their price objective on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.67.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the sale, the general counsel now directly owns 90,597 shares in the company, valued at approximately $1,769,359.41. The trade was a 9.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 22,119 shares of company stock worth $464,974 over the last 90 days. 0.96% of the stock is currently 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.