Sei Investments Co. Sells 32,609 Shares of Premier, Inc. (NASDAQ:PINC)

Sei Investments Co. decreased its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 28.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,103 shares of the company's stock after selling 32,609 shares during the period. Sei Investments Co. owned approximately 0.08% of Premier worth $1,533,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PINC. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Premier during the first quarter worth $27,000. Versant Capital Management Inc raised its holdings in Premier by 265.2% during the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company's stock worth $40,000 after buying an additional 1,554 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in Premier by 50.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company's stock worth $43,000 after buying an additional 650 shares during the last quarter. Parallel Advisors LLC raised its holdings in Premier by 141.2% during the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company's stock worth $44,000 after buying an additional 1,159 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Premier during the second quarter worth $47,000. Institutional investors and hedge funds own 74.41% of the company's stock.

Insiders Place Their Bets

In other Premier news, COO Leigh Anderson sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the transaction, the chief operating officer now owns 131,707 shares in the company, valued at $2,584,091.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Premier news, insider Andy Brailo sold 4,390 shares of the 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 owns 104,410 shares in the company, valued at $2,141,449.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Leigh Anderson sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the sale, the chief operating officer now directly owns 131,707 shares in the company, valued at approximately $2,584,091.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,312 shares of company stock worth $3,779,250 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PINC has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Premier from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their target price on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Monday, September 9th. Benchmark downgraded shares of Premier from a "buy" rating to a "hold" rating in a report on Monday, August 26th. StockNews.com downgraded shares of Premier from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Finally, Canaccord Genuity Group lowered their target price on shares of Premier from $20.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday. Ten analysts have rated the stock with a hold rating, According to MarketBeat, Premier currently has an average rating of "Hold" and an average target price of $21.81.

Premier Stock Up 0.5 %

PINC traded up $0.09 during trading on Friday, hitting $19.19. 578,927 shares of the company traded hands, compared to its average volume of 1,129,158. The firm has a market cap of $1.92 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 9.14 and a beta of 0.41. The stock's fifty day moving average is $20.07 and its 200 day moving average is $19.90. Premier, Inc. has a one year low of $17.95 and a one year high of $23.01.

Premier (NASDAQ:PINC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.25. The company had revenue of $350.30 million during the quarter, compared to analyst estimates of $308.88 million. Premier had a net margin of 8.88% and a return on equity of 11.69%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, equities research analysts forecast that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 4.38%. Premier's dividend payout ratio is presently 131.25%.

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.