Legal & General Group Plc Reduces Position in Premier, Inc. (NASDAQ:PINC)

Legal & General Group Plc trimmed its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,524 shares of the company's stock after selling 40,601 shares during the quarter. Legal & General Group Plc owned about 0.29% of Premier worth $5,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brooklyn Investment Group lifted its stake in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after buying an additional 1,235 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after acquiring an additional 786 shares during the period. Keystone Financial Group Inc. bought a new position in Premier during the fourth quarter worth $37,000. Wilmington Savings Fund Society FSB acquired a new stake in Premier in the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after buying an additional 1,427 shares during the period. Institutional investors own 74.41% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total transaction of $195,300.00. Following the completion of the sale, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. This trade represents a 9.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.96% of the company's stock.

Analysts Set New Price Targets

PINC has been the topic of several recent research reports. Robert W. Baird cut 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. Canaccord Genuity Group decreased 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. Finally, Piper Sandler cut their price target on Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has an average rating of "Hold" and an average target price of $20.17.

Premier Stock Performance

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

Premier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 4.24%. Premier's payout ratio is currently -840.00%.

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.