JPMorgan Chase & Co. Has $9.56 Million Stock Holdings in Premier, Inc. (NASDAQ:PINC)

JPMorgan Chase & Co. lowered its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 19.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 477,829 shares of the company's stock after selling 117,946 shares during the period. JPMorgan Chase & Co. owned 0.50% of Premier worth $9,557,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock worth $27,000 after buying an additional 780 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Premier during the third quarter valued at approximately $39,000. Quarry LP grew its stake in Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company's stock worth $44,000 after buying an additional 1,857 shares during the period. Abich Financial Wealth Management LLC increased its position in shares of Premier by 37.0% in the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company's stock worth $50,000 after acquiring an additional 721 shares in the last quarter. Finally, Quest Partners LLC raised its stake in shares of Premier by 356,500.0% in the 3rd quarter. Quest Partners LLC now owns 3,566 shares of the company's stock valued at $71,000 after acquiring an additional 3,565 shares during the period. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PINC. StockNews.com downgraded Premier from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Robert W. Baird increased their target price on Premier from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Canaccord Genuity Group boosted their price target on Premier from $19.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. Finally, Barclays increased their price objective on shares of Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, Premier has an average rating of "Hold" and an average target price of $21.36.

Insider Activity

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the company's stock in a transaction dated 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 sale, the director now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Alkire sold 17,900 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $20.00, for a total value of $358,000.00. Following the completion of the sale, the chief executive officer now directly owns 540,243 shares of the company's stock, valued at approximately $10,804,860. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,325 shares of company stock worth $1,678,242. 0.96% of the stock is owned by company insiders.

Premier Stock Performance

Shares of Premier stock traded up $0.13 during trading hours on Tuesday, reaching $21.46. The company's stock had a trading volume of 1,307,403 shares, compared to its average volume of 1,617,825. Premier, Inc. has a one year low of $17.95 and a one year high of $23.56. The company's 50 day simple moving average is $22.03 and its 200 day simple moving average is $20.57. The stock has a market cap of $2.06 billion, a P/E ratio of 15.78 and a beta of 0.43.

Premier (NASDAQ:PINC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. The business had revenue of $248.14 million for the quarter, compared to analysts' expectations of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. The business's quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, sell-side analysts predict that Premier, Inc. will post 1.09 earnings per share for the current fiscal year.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Friday, November 29th. Premier's dividend payout ratio (DPR) is presently 61.76%.

Premier Company 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.