Handelsbanken Fonder AB Trims Stake in Premier, Inc. (NASDAQ:PINC)

Handelsbanken Fonder AB lessened its stake in Premier, Inc. (NASDAQ:PINC - Free Report) by 40.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,695 shares of the company's stock after selling 16,600 shares during the period. Handelsbanken Fonder AB's holdings in Premier were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PINC. Van ECK Associates Corp grew its stake in Premier by 28.0% during 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 boosted 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 in the last quarter. QRG Capital Management Inc. grew its stake in shares of Premier by 6.7% during the third quarter. QRG Capital Management Inc. now owns 18,657 shares of the company's stock worth $373,000 after acquiring an additional 1,171 shares during the last quarter. KBC Group NV increased its holdings in shares of Premier by 40.9% during 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 in the last quarter. Finally, Brooklyn Investment Group raised its position in shares of Premier by 61,750.0% in the 4th 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. 74.41% of the stock is currently owned by institutional investors.

Premier Trading Down 1.4 %

PINC stock traded down $0.25 during midday trading on Monday, reaching $17.93. The stock had a trading volume of 1,517,769 shares, compared to its average volume of 1,358,772. Premier, Inc. has a 52-week low of $17.69 and a 52-week high of $23.56. The company's fifty day simple moving average is $20.55 and its 200 day simple moving average is $20.73. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -179.28 and a beta of 0.43.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.68%. Premier's payout ratio is presently -840.00%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PINC. StockNews.com downgraded Premier from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group dropped their target price on Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, February 5th. Barclays raised their price target on shares of Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. Piper Sandler decreased their price objective on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird cut their price objective on shares of Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier has an average rating of "Hold" and a consensus target price of $20.17.

Insider Buying and Selling

In related news, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total transaction of $25,207.84. Following the transaction, the director now owns 23,846 shares in the company, valued at approximately $529,142.74. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 approximately $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is owned by 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.