Premier, Inc. (NASDAQ:PINC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Premier, Inc. (NASDAQ:PINC - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 890,619 shares of the company's stock after selling 73,624 shares during the period. Allspring Global Investments Holdings LLC owned 0.93% of Premier worth $19,033,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PINC. Nordea Investment Management AB raised its holdings in shares of Premier by 21.0% during the 4th quarter. Nordea Investment Management AB now owns 256,492 shares of the company's stock worth $5,465,000 after acquiring an additional 44,480 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Premier by 27.7% during the 3rd quarter. Empowered Funds LLC now owns 428,076 shares of the company's stock worth $8,562,000 after acquiring an additional 92,766 shares in the last quarter. KBC Group NV raised its holdings in shares of Premier by 38.1% during the 4th quarter. KBC Group NV now owns 5,589 shares of the company's stock worth $118,000 after acquiring an additional 1,542 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Premier by 70.2% during the 3rd quarter. Jane Street Group LLC now owns 143,803 shares of the company's stock worth $2,876,000 after acquiring an additional 59,295 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Premier during the 4th quarter worth approximately $248,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Premier Price Performance

Premier stock traded up $0.42 during midday trading on Wednesday, reaching $18.74. The company's stock had a trading volume of 1,295,948 shares, compared to its average volume of 1,329,973. Premier, Inc. has a 52-week low of $17.69 and a 52-week high of $23.56. The stock has a market capitalization of $1.71 billion, a P/E ratio of -187.38 and a beta of 0.43. The stock's 50-day simple moving average is $20.99 and its 200-day simple moving average is $20.79.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, February 28th. Premier's payout ratio is -840.00%.

Insider Transactions at Premier

In related news, CEO Michael J. Alkire sold 18,374 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total transaction of $400,553.20. Following the sale, the chief executive officer now directly owns 502,354 shares of the company's stock, valued at $10,951,317.20. This trade represents a 3.53 % decrease in their ownership of the stock. 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 the firm's 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 in the company, valued at approximately $442,708.56. This trade represents a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,010 shares of company stock worth $916,911 over the last three months. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PINC. Piper Sandler decreased 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. Canaccord Genuity Group cut 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 boosted their target price on Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. StockNews.com downgraded Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, 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 report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.50.

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.