Kennondale Capital Management LLC bought a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 31,822 shares of the company's stock, valued at approximately $675,000.
Several other large investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Premier by 0.8% in the 3rd quarter. State Street Corp now owns 3,973,582 shares of the company's stock valued at $79,472,000 after purchasing an additional 32,193 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Premier by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company's stock valued at $38,444,000 after purchasing an additional 71,624 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Premier by 123.1% in the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after purchasing an additional 464,710 shares during the period. Empowered Funds LLC lifted its stake in shares of Premier by 15.9% in the 4th quarter. Empowered Funds LLC now owns 495,985 shares of the company's stock valued at $10,515,000 after purchasing an additional 67,909 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Premier by 109.8% in 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 in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.
Premier Stock Down 0.9 %
Shares of Premier stock traded down $0.16 during trading hours on Friday, reaching $18.55. 7,307,050 shares of the company's stock were exchanged, compared to its average volume of 1,244,523. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The company has a market capitalization of $1.69 billion, a P/E ratio of -185.48 and a beta of 0.39. The business has a fifty day moving average of $19.60 and a two-hundred day moving average of $20.52.
Premier Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Friday, February 28th. Premier's payout ratio is -840.00%.
Insider Transactions at Premier
In related 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 value of $53,550.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.96% of the company's stock.
Wall Street Analysts Forecast Growth
PINC has been the subject of several recent analyst reports. Robert W. Baird cut their price target on shares of Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group cut their price target 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. Finally, Piper Sandler cut their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $20.17.
View Our Latest Analysis on PINC
About Premier
(
Free Report)
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.
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