Quantinno Capital Management LP Has $8.59 Million Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Quantinno Capital Management LP lifted its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 249.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 405,241 shares of the company's stock after acquiring an additional 289,408 shares during the period. Quantinno Capital Management LP owned 0.42% of Premier worth $8,591,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. 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. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Premier in the 4th quarter valued at about $386,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Premier during the fourth quarter worth $554,000. KBC Group NV lifted its stake in shares of Premier by 38.1% in the 4th quarter. KBC Group NV now owns 5,589 shares of the company's stock worth $118,000 after acquiring an additional 1,542 shares during the period. Finally, Kera Capital Partners Inc. purchased a new stake in Premier in the 4th quarter valued at approximately $248,000. Institutional investors and hedge funds own 74.41% of the company's stock.

Premier Trading Up 0.7%

NASDAQ PINC traded up $0.16 during trading hours on Wednesday, reaching $23.26. 372,114 shares of the company traded hands, compared to its average volume of 1,423,387. The stock has a market capitalization of $1.92 billion, a PE ratio of -232.58 and a beta of 0.54. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56. The company has a 50 day moving average of $20.19 and a two-hundred day moving average of $20.69.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio is presently 147.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PINC shares. Robert W. Baird lifted their price target on shares of Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Canaccord Genuity Group raised their target price on shares of Premier from $19.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, Piper Sandler lifted their target price on shares of Premier from $19.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.20.

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 10,982 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 22,119 shares of company stock worth $464,974. 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.