Congress Wealth Management LLC DE Reduces Stock Position in Premier, Inc. (NASDAQ:PINC)

Congress Wealth Management LLC DE trimmed its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 49.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,712 shares of the company's stock after selling 25,488 shares during the period. Congress Wealth Management LLC DE's holdings in Premier were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PINC. KLP Kapitalforvaltning AS purchased a new stake in shares of Premier during the 4th quarter valued at about $996,000. American Century Companies Inc. increased its stake in Premier by 4.2% during the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company's stock worth $55,093,000 after acquiring an additional 104,452 shares during the last quarter. Advisors Asset Management Inc. raised its position in Premier by 554.7% during the fourth quarter. Advisors Asset Management Inc. now owns 98,945 shares of the company's stock valued at $2,098,000 after purchasing an additional 83,831 shares during the period. Kennondale Capital Management LLC bought a new stake in shares of Premier in the 4th quarter valued at approximately $675,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Premier in the 4th quarter worth approximately $227,000. 74.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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Insider Activity

In related news, Director Helen M. Boudreau sold 2,500 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the transaction, the director now owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.96% of the company's stock.

Premier Stock Performance

NASDAQ:PINC traded up $0.12 during trading hours on Wednesday, reaching $19.60. The company's stock had a trading volume of 114,831 shares, compared to its average volume of 1,249,945. The stock has a 50 day moving average price of $19.22 and a two-hundred day moving average price of $20.47. The company has a market capitalization of $1.79 billion, a P/E ratio of -195.73 and a beta of 0.39. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56.

Premier Announces Dividend

The company also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, February 28th. Premier's payout ratio is -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.