LSV Asset Management Has $4.79 Million Position in Premier, Inc. (NASDAQ:PINC)

LSV Asset Management lifted its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 116.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 256,500 shares of the company's stock after buying an additional 138,200 shares during the quarter. LSV Asset Management owned about 0.24% of Premier worth $4,789,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

PINC has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Monday. StockNews.com cut shares of Premier from a "buy" rating to a "hold" rating in a research note on Thursday. Canaccord Genuity Group lowered their target price on shares of Premier from $21.00 to $20.00 and set a "hold" rating on the stock in a research note on Wednesday, August 21st. Robert W. Baird cut their target price on shares of Premier from $22.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, August 21st. Finally, Benchmark cut shares of Premier from a "buy" rating to a "hold" rating in a report on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $21.94.

Premier Stock Up 0.9 %

NASDAQ PINC traded up $0.17 during midday trading on Thursday, hitting $19.76. The company had a trading volume of 518,084 shares, compared to its average volume of 1,458,957. The firm has a fifty day simple moving average of $19.87 and a two-hundred day simple moving average of $20.06. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 9.82 and a beta of 0.40. Premier, Inc. has a fifty-two week low of $17.95 and a fifty-two week high of $23.01.

Premier (NASDAQ:PINC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.25. Premier had a return on equity of 11.69% and a net margin of 8.88%. The firm had revenue of $350.30 million for the quarter, compared to analyst estimates of $308.88 million. During the same period in the previous year, the company posted $0.70 earnings per share. The company's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Premier, Inc. will post 1.02 earnings per share for the current year.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 4.25%. Premier's dividend payout ratio is currently 131.25%.

Insider Buying and Selling at Premier

In other news, insider Andy Brailo sold 4,390 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $20.51, for a total transaction of $90,038.90. Following the completion of the transaction, the insider now directly owns 104,410 shares of the company's stock, valued at approximately $2,141,449.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Leigh Anderson sold 20,000 shares of the company's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $18.63, for a total value of $372,600.00. Following the sale, the chief operating officer now owns 163,928 shares of the company's stock, valued at approximately $3,053,978.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andy Brailo sold 4,390 shares of Premier stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $20.51, for a total transaction of $90,038.90. Following the transaction, the insider now directly owns 104,410 shares of the company's stock, valued at $2,141,449.10. The disclosure for this sale can be found here. Insiders have sold 156,312 shares of company stock valued at $3,154,400 in the last 90 days. 0.85% of the stock is currently owned by company insiders.

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.