Teacher Retirement System of Texas decreased its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 60.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,039 shares of the company's stock after selling 18,021 shares during the period. Teacher Retirement System of Texas' holdings in Premier were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its holdings in Premier by 554.7% during the 4th quarter. Advisors Asset Management Inc. now owns 98,945 shares of the company's stock worth $2,098,000 after acquiring an additional 83,831 shares in the last quarter. Kennondale Capital Management LLC purchased a new position in Premier in the fourth quarter valued at $675,000. Corient Private Wealth LLC purchased a new position in Premier in the fourth quarter valued at $227,000. Brandes Investment Partners LP raised its stake in Premier by 123.1% in the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after buying an additional 464,710 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Premier during the 4th quarter worth about $386,000. 74.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on PINC. Piper Sandler dropped their price objective on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. 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 report on Wednesday, February 5th. 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 report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier has a consensus rating of "Hold" and an average target price of $20.17.
Check Out Our Latest Research Report on PINC
Premier Trading Down 0.5 %
Shares of NASDAQ PINC traded down $0.10 during midday trading on Friday, reaching $19.44. 1,261,534 shares of the company were exchanged, compared to its average volume of 1,252,144. The stock has a fifty day simple moving average of $19.05 and a 200 day simple moving average of $20.45. The stock has a market cap of $1.78 billion, a P/E ratio of -194.38 and a beta of 0.39. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56.
Premier Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 4.32%. Premier's dividend payout ratio is currently -840.00%.
Insiders Place Their Bets
In other Premier news, General Counsel David L. Klatsky sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now owns 90,597 shares in the company, valued at approximately $1,769,359.41. The trade was a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of the firm's stock in a transaction that occurred 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 directly owns 20,668 shares of the company's stock, valued at $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,637 shares of company stock worth $268,793. 0.96% of the stock is owned by insiders.
Premier Company Profile
(
Free Report)
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.
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