Bank of New York Mellon Corp Sells 109,294 Shares of Premier, Inc. (NASDAQ:PINC)

Bank of New York Mellon Corp lessened its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,243,686 shares of the company's stock after selling 109,294 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.29% of Premier worth $26,366,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of Premier by 28.0% in the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after buying an additional 446 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Premier by 2.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company's stock worth $408,000 after acquiring an additional 478 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Premier by 6.7% in the third quarter. QRG Capital Management Inc. now owns 18,657 shares of the company's stock valued at $373,000 after acquiring an additional 1,171 shares during the period. KBC Group NV boosted its stake in Premier by 40.9% in the third quarter. KBC Group NV now owns 4,047 shares of the company's stock valued at $81,000 after acquiring an additional 1,174 shares during the period. Finally, Brooklyn Investment Group grew its holdings in shares of Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after purchasing an additional 1,235 shares during the last quarter. Institutional investors own 74.41% of the company's stock.

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Premier Price Performance

NASDAQ:PINC traded down $0.13 during mid-day trading on Thursday, reaching $18.00. The stock had a trading volume of 1,025,576 shares, compared to its average volume of 1,388,838. The business's 50 day moving average is $19.99 and its 200 day moving average is $20.60. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The stock has a market cap of $1.64 billion, a P/E ratio of -179.93 and a beta of 0.39.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 4.67%. Premier's dividend payout ratio (DPR) is currently -840.00%.

Analyst Ratings Changes

PINC has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Canaccord Genuity Group reduced their price target on shares of Premier from $21.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler dropped their price objective on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $20.17.

Insider Buying and Selling

In related news, COO Leigh Anderson sold 20,000 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the transaction, the chief operating officer now directly owns 111,707 shares in the company, valued at $2,444,149.16. The trade was a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Helen M. Boudreau sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares of the company's stock, valued at $442,708.56. This represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,637 shares of company stock worth $511,093 in the last quarter. 0.96% of the stock is currently owned by company insiders.

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.