KLP Kapitalforvaltning AS Invests $996,000 in Premier, Inc. (NASDAQ:PINC)

KLP Kapitalforvaltning AS acquired a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 47,000 shares of the company's stock, valued at approximately $996,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in 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 acquiring an additional 32,193 shares during the period. American Century Companies Inc. lifted its holdings in Premier by 4.2% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Premier by 4.1% in the fourth 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 increased its stake 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 worth $17,857,000 after purchasing an additional 464,710 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Premier by 15.9% during the 4th quarter. Empowered Funds LLC now owns 495,985 shares of the company's stock worth $10,515,000 after purchasing an additional 67,909 shares during the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

PINC has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a 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 on the stock in a research note on Wednesday, February 5th. Finally, Canaccord Genuity Group reduced their price objective on Premier from $21.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Premier currently has an average rating of "Hold" and an average price target of $20.17.

Insider Buying and Selling at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of Premier 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 sale, the director now owns 20,668 shares of the company's stock, valued at approximately $442,708.56. The trade was a 10.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by company insiders.

Premier Price Performance

Premier stock traded down $0.03 during trading on Thursday, reaching $19.52. 112,120 shares of the company were exchanged, compared to its average volume of 1,245,277. The stock's 50 day simple moving average is $19.17 and its two-hundred day simple moving average is $20.46. The company has a market capitalization of $1.78 billion, a P/E ratio of -195.08 and a beta of 0.39. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Friday, February 28th. 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.