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

Prudential Financial Inc. cut its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 50.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,453 shares of the company's stock after selling 99,320 shares during the quarter. Prudential Financial Inc. owned approximately 0.10% of Premier worth $2,045,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PINC. KLP Kapitalforvaltning AS bought a new position in shares of Premier during the 4th quarter worth approximately $996,000. American Century Companies Inc. grew its holdings in Premier by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company's stock worth $55,093,000 after purchasing an additional 104,452 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Premier by 554.7% during the fourth quarter. Advisors Asset Management Inc. now owns 98,945 shares of the company's stock worth $2,098,000 after purchasing an additional 83,831 shares in the last quarter. Kennondale Capital Management LLC purchased a new stake in shares of Premier during the 4th quarter valued at $675,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Premier during the 4th quarter valued at $227,000. 74.41% of the stock is owned by hedge funds and other institutional investors.

Premier Stock Up 3.9 %

Shares of Premier stock traded up $0.74 during mid-day trading on Wednesday, reaching $19.68. 2,283,024 shares of the stock traded hands, compared to its average volume of 1,261,380. The business has a 50-day moving average of $18.70 and a 200 day moving average of $20.42. The stock has a market capitalization of $1.80 billion, a PE ratio of -196.78 and a beta of 0.51. Premier, Inc. has a fifty-two week low of $17.14 and a fifty-two week high of $23.56.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 4.27%. Premier's dividend payout ratio (DPR) is presently -840.00%.

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now directly owns 90,597 shares in the company, valued at approximately $1,769,359.41. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

PINC has been the topic of several recent analyst reports. Canaccord Genuity Group reduced 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. Piper Sandler cut their price objective on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Finally, Robert W. Baird decreased their price objective 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 company presently has an average rating of "Hold" and a consensus target price of $20.17.

Premier Company 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.