Allspring Global Investments Holdings LLC Sells 111,755 Shares of Premier, Inc. (NASDAQ:PINC)

Allspring Global Investments Holdings LLC lowered its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,222,333 shares of the company's stock after selling 111,755 shares during the period. Allspring Global Investments Holdings LLC owned about 1.17% of Premier worth $22,821,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PINC. Bank of Nova Scotia boosted its holdings in Premier by 711.0% during the fourth quarter. Bank of Nova Scotia now owns 163,006 shares of the company's stock worth $3,645,000 after buying an additional 142,907 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Premier by 10.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,413,931 shares of the company's stock worth $31,615,000 after acquiring an additional 129,813 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in shares of Premier by 79.5% in the 1st quarter. Carolina Wealth Advisors LLC now owns 264,696 shares of the company's stock worth $5,850,000 after acquiring an additional 117,242 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Premier by 41.9% during the fourth quarter. Quadrant Capital Group LLC now owns 7,452 shares of the company's stock worth $167,000 after purchasing an additional 2,200 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Premier by 31.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 532,915 shares of the company's stock valued at $11,916,000 after purchasing an additional 126,640 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company's stock.

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 13,339 shares of Premier stock in a transaction on Monday, June 10th. The shares were sold at an average price of $18.55, for a total value of $247,438.45. Following the completion of the sale, the general counsel now owns 92,001 shares of the company's stock, valued at approximately $1,706,618.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel David L. Klatsky sold 13,339 shares of the firm's stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $18.55, for a total value of $247,438.45. Following the transaction, the general counsel now directly owns 92,001 shares of the company's stock, valued at approximately $1,706,618.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the business's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $18.63, for a total value of $372,600.00. Following the completion of the sale, the chief operating officer now owns 163,928 shares of the company's stock, valued at $3,053,978.64. The disclosure for this sale can be found here. Insiders have sold a total of 113,429 shares of company stock worth $2,245,068 in the last 90 days. 0.85% of the stock is owned by insiders.

Premier Stock Up 0.3 %

Shares of Premier stock traded up $0.06 on Wednesday, hitting $19.85. 1,180,018 shares of the company traded hands, compared to its average volume of 1,475,180. Premier, Inc. has a 12-month low of $17.95 and a 12-month high of $24.27. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.08 billion, a PE ratio of 30.92, a PEG ratio of 6.62 and a beta of 0.42. The company has a 50-day moving average price of $19.49 and a 200 day moving average price of $20.15.

Premier (NASDAQ:PINC - Get Free Report) last issued its earnings results on Tuesday, August 20th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.25. The firm had revenue of $350.30 million for the quarter, compared to the consensus estimate of $308.88 million. Premier had a return on equity of 11.71% and a net margin of 6.01%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. Sell-side analysts predict that Premier, Inc. will post 1.96 earnings per share for the current year.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, August 30th. Premier's dividend payout ratio is 131.25%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PINC. Piper Sandler dropped their price target on Premier from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Premier from a "hold" rating to a "buy" rating in a report on Thursday, May 9th. Canaccord Genuity Group downgraded shares of Premier from a "buy" rating to a "hold" rating and reduced their price target for the company from $27.00 to $21.00 in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Premier from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 28th. Finally, Robert W. Baird reduced their target price on Premier from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, August 21st. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Premier presently has a consensus rating of "Hold" and an average price target of $22.19.

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.