Invesco Ltd. Grows Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Invesco Ltd. raised its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 23.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 719,597 shares of the company's stock after purchasing an additional 137,306 shares during the period. Invesco Ltd. owned approximately 0.75% of Premier worth $15,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINC. Brandes Investment Partners LP boosted its position in shares of Premier by 123.1% during the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after buying an additional 464,710 shares during the last quarter. Franklin Resources Inc. bought a new position in Premier during the 4th quarter valued at $5,275,000. 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 worth $9,933,000 after acquiring an additional 245,239 shares during the last quarter. ExodusPoint Capital Management LP grew its stake in shares of Premier by 408.4% in the 4th quarter. ExodusPoint Capital Management LP now owns 169,458 shares of the company's stock worth $3,593,000 after acquiring an additional 136,129 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Premier by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company's stock valued at $55,093,000 after purchasing an additional 104,452 shares during the last quarter. 74.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Premier

In other news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.96% of the company's stock.

Premier Stock Performance

NASDAQ PINC traded up $0.22 during trading on Wednesday, hitting $19.79. 1,089,943 shares of the company's stock traded hands, compared to its average volume of 1,265,082. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -197.88 and a beta of 0.51. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The business has a 50 day moving average of $18.75 and a 200-day moving average of $20.41.

Premier Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Friday, February 28th. Premier's dividend payout ratio (DPR) is presently -840.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PINC. Piper Sandler reduced their price objective on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Robert W. Baird lowered their target price on Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Finally, Canaccord Genuity Group reduced their target price on shares of Premier from $21.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier has a consensus rating of "Hold" and an average target price of $20.17.

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.