Premier, Inc. (NASDAQ:PINC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 466,009 shares of the company's stock after selling 27,998 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Premier worth $9,879,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group lifted its holdings 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 worth $26,000 after buying an additional 1,235 shares during the period. Keystone Financial Group Inc. purchased a new stake in shares of Premier in the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB bought a new position in shares of Premier during the third quarter valued at approximately $39,000. Van ECK Associates Corp boosted its stake in shares of Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock valued at $43,000 after purchasing an additional 446 shares in the last quarter. Finally, Quarry LP increased its holdings in Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company's stock valued at $44,000 after buying an additional 1,857 shares during the period. Hedge funds and other institutional investors own 74.41% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Premier

In related news, Director John T. Bigalke sold 1,136 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the transaction, the director now directly owns 23,846 shares of the company's stock, valued at $529,142.74. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the sale, the director now directly owns 20,668 shares of the company's stock, valued at approximately $442,708.56. This represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is owned by corporate insiders.

Premier Trading Down 1.4 %

Shares of PINC stock traded down $0.25 during trading hours on Monday, reaching $17.93. 1,517,769 shares of the company's stock were exchanged, compared to its average volume of 1,358,772. Premier, Inc. has a 1 year low of $17.69 and a 1 year high of $23.56. The stock has a market cap of $1.64 billion, a PE ratio of -179.28 and a beta of 0.43. The stock's fifty day moving average price is $20.48 and its two-hundred day moving average price is $20.71.

Premier Announces Dividend

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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, February 28th. Premier's dividend payout ratio is presently -840.00%.

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.