Teacher Retirement System of Texas Sells 18,021 Shares of Premier, Inc. (NASDAQ:PINC)

Teacher Retirement System of Texas reduced its holdings in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 60.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Premier by 0.8% in the 3rd quarter. State Street Corp now owns 3,973,582 shares of the company's stock worth $79,472,000 after purchasing an additional 32,193 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Premier by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company's stock valued at $38,444,000 after purchasing an additional 71,624 shares during the period. Brandes Investment Partners LP increased its position in Premier by 123.1% in the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock worth $17,857,000 after buying an additional 464,710 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Premier by 15.9% in the fourth quarter. Empowered Funds LLC now owns 495,985 shares of the company's stock worth $10,515,000 after buying an additional 67,909 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Premier by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company's stock valued at $9,933,000 after buying an additional 245,239 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors.

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Premier Trading Down 0.1 %

PINC traded down $0.01 during trading hours on Thursday, hitting $19.54. The company's stock had a trading volume of 1,148,201 shares, compared to its average volume of 1,248,897. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -195.38 and a beta of 0.39. The business's 50-day moving average price is $19.11 and its 200-day moving average price is $20.46. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, February 28th. Premier's dividend payout ratio is -840.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PINC shares. Robert W. Baird dropped their price target on shares of 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 cut their price objective 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 reduced their price objective on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.17.

Insider Activity at Premier

In other news, General Counsel David L. Klatsky sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the sale, the general counsel now owns 90,597 shares in the company, valued at approximately $1,769,359.41. This trade represents a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the transaction, the director now owns 20,668 shares in the company, valued at $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. In the last quarter, insiders sold 13,637 shares of company stock valued at $268,793. Insiders own 0.96% of the company's stock.

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.