Advisors Asset Management Inc. Boosts Stock Position in Premier, Inc. (NASDAQ:PINC)

Advisors Asset Management Inc. lifted its position in Premier, Inc. (NASDAQ:PINC) by 554.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,945 shares of the company’s stock after purchasing an additional 83,831 shares during the quarter. Advisors Asset Management Inc. owned 0.10% of Premier worth $2,098,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brandes Investment Partners LP boosted its holdings in Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after acquiring an additional 464,710 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Premier by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after acquiring an additional 245,239 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Premier by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company’s stock valued at $34,836,000 after acquiring an additional 97,458 shares during the period. Quantinno Capital Management LP boosted its holdings in Premier by 310.3% during the 3rd quarter. Quantinno Capital Management LP now owns 115,833 shares of the company’s stock valued at $2,317,000 after acquiring an additional 87,601 shares during the period. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in Premier during the 4th quarter valued at about $1,570,000. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Canaccord Genuity Group lowered their price target on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Robert W. Baird lowered their price target on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.17.

Insider Buying and Selling at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the transaction, the director now owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

Premier Price Performance

Shares of PINC stock opened at $18.55 on Friday. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The stock’s 50 day simple moving average is $19.60 and its two-hundred day simple moving average is $20.51. The company has a market cap of $1.69 billion, a PE ratio of -185.48 and a beta of 0.39.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.53%. Premier’s dividend payout ratio (DPR) is presently -840.00%.

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.