Treasurer of the State of North Carolina Reduces Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Treasurer of the State of North Carolina cut its stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 63.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,453 shares of the company's stock after selling 74,520 shares during the quarter. Treasurer of the State of North Carolina's holdings in Premier were worth $900,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Brooklyn Investment Group increased its stake in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock worth $26,000 after purchasing an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in Premier during the fourth quarter valued at $37,000. Wilmington Savings Fund Society FSB purchased a new position in Premier during the third quarter worth about $39,000. Finally, Smartleaf Asset Management LLC increased its stake in Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after acquiring an additional 1,427 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Performance

NASDAQ:PINC traded up $0.23 during trading hours on Wednesday, reaching $19.80. The company's stock had a trading volume of 622,938 shares, compared to its average volume of 1,263,558. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -197.76 and a beta of 0.51. The firm has a 50-day simple moving average of $18.75 and a 200-day simple moving average of $20.41. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 4.24%. Premier's dividend payout ratio is currently -840.00%.

Analyst Upgrades and Downgrades

PINC has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price objective on shares of Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, February 5th. Piper Sandler lowered 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. Finally, Robert W. Baird cut their target price 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. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.17.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total transaction of $195,300.00. Following the completion of the sale, the general counsel now directly owns 90,597 shares in the company, valued at $1,769,359.41. This represents a 9.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.96% of the stock is currently owned by corporate 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.