Premier, Inc. (NASDAQ:PINC) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 495,985 shares of the company's stock after acquiring an additional 67,909 shares during the quarter. Empowered Funds LLC owned about 0.52% of Premier worth $10,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its position in Premier by 2.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company's stock valued at $408,000 after acquiring an additional 478 shares in the last quarter. GAMMA Investing LLC boosted its position in Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock worth $27,000 after purchasing an additional 780 shares in the last quarter. Impact Partnership Wealth LLC grew its stake in shares of Premier by 7.1% during the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company's stock worth $239,000 after purchasing an additional 795 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Premier by 6.7% during the 3rd quarter. QRG Capital Management Inc. now owns 18,657 shares of the company's stock valued at $373,000 after purchasing an additional 1,171 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Premier by 40.9% in the 3rd quarter. KBC Group NV now owns 4,047 shares of the company's stock valued at $81,000 after purchasing an additional 1,174 shares during the period. 74.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Michael J. Alkire sold 18,374 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $21.80, for a total transaction of $400,553.20. Following the transaction, the chief executive officer now directly owns 502,354 shares in the company, valued at approximately $10,951,317.20. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Helen M. Boudreau sold 2,500 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares of the company's stock, valued at approximately $442,708.56. This trade represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,010 shares of company stock worth $916,911 in the last 90 days. Corporate insiders own 0.96% of the company's stock.

Premier Trading Up 0.1 %

Premier stock traded up $0.02 during midday trading on Thursday, hitting $18.04. 948,426 shares of the stock were exchanged, compared to its average volume of 1,349,584. The stock's 50-day simple moving average is $21.28 and its 200 day simple moving average is $20.87. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -180.38 and a beta of 0.43. Premier, Inc. has a fifty-two week low of $17.84 and a fifty-two week high of $23.56.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 4.66%. Premier's payout ratio is -839.92%.

Wall Street Analyst Weigh In

Several analysts recently commented on PINC shares. Canaccord Genuity Group dropped their price target on shares of Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, February 5th. Piper Sandler dropped their target price on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. StockNews.com cut Premier from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Barclays raised their price objective on Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. Finally, Robert W. Baird reduced their target price on Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.50.

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.