Premier, Inc. (NASDAQ:PINC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 964,243 shares of the company's stock after selling 258,090 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.96% of Premier worth $19,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PINC. Abich Financial Wealth Management LLC lifted its holdings in Premier by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company's stock valued at $43,000 after acquiring an additional 650 shares during the period. Arizona State Retirement System grew its position in Premier by 2.0% during the second quarter. Arizona State Retirement System now owns 33,542 shares of the company's stock worth $626,000 after buying an additional 653 shares during the period. Comerica Bank increased its holdings in Premier by 0.9% in the first quarter. Comerica Bank now owns 77,422 shares of the company's stock valued at $1,711,000 after buying an additional 728 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Premier by 137.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock valued at $27,000 after acquiring an additional 780 shares during the period. Finally, Caxton Associates LP lifted its position in shares of Premier by 1.6% during the 2nd quarter. Caxton Associates LP now owns 69,168 shares of the company's stock valued at $1,291,000 after acquiring an additional 1,095 shares during the period. Hedge funds and other institutional investors own 74.41% of the company's stock.

Insider Activity

In related news, CEO Michael J. Alkire sold 1,264 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $20.01, for a total value of $25,292.64. Following the transaction, the chief executive officer now owns 558,143 shares in the company, valued at approximately $11,168,441.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Andy Brailo sold 4,390 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $20.51, for a total value of $90,038.90. Following the completion of the transaction, the insider now directly owns 104,410 shares in the company, valued at approximately $2,141,449.10. This 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 can be accessed through this link. Also, CEO Michael J. Alkire sold 1,264 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $20.01, for a total transaction of $25,292.64. Following the completion of the transaction, the chief executive officer now owns 558,143 shares in the company, valued at $11,168,441.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,212 shares of company stock valued at $3,134,991 in the last ninety days. Company insiders own 0.85% of the company's stock.

Premier Stock Performance

NASDAQ PINC traded down $0.09 during mid-day trading on Friday, reaching $19.76. 509,963 shares of the stock were exchanged, compared to its average volume of 1,372,808. The business's fifty day simple moving average is $19.90 and its 200 day simple moving average is $19.73. The stock has a market capitalization of $1.98 billion, a PE ratio of 19.27, a PEG ratio of 9.43 and a beta of 0.41. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.01.

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

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Friday, August 30th. Premier's dividend payout ratio is currently 81.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PINC shares. StockNews.com downgraded Premier from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Canaccord Genuity Group dropped their price target on Premier from $20.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Monday, September 9th. Benchmark cut shares of Premier from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. Finally, Robert W. Baird lowered their price target on shares of Premier from $22.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.81.

Premier Company 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.