13,509 Shares in Premier, Inc. (NASDAQ:PINC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 13,509 shares of the company's stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group increased its position in shares of Premier by 61,750.0% in the fourth 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. grew its stake in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. bought a new position in Premier in the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB bought a new position in Premier in the 3rd quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after buying an additional 1,427 shares in the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the sale, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. The trade was a 9.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 22,119 shares of company stock worth $464,974. Insiders own 0.96% of the company's stock.

Analyst Ratings Changes

PINC has been the topic of several analyst reports. Robert W. Baird reduced their price target on shares of Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group upped their target price on Premier from $19.00 to $22.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler reduced their target price on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $20.60.

Premier Price Performance

PINC stock traded down $0.34 during trading on Wednesday, reaching $22.52. 1,735,852 shares of the company were exchanged, compared to its average volume of 1,250,852. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -225.18 and a beta of 0.54. The company has a 50-day moving average of $19.72 and a two-hundred day moving average of $20.59. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.56.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Friday, May 30th. Premier's payout ratio is 147.37%.

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.