Quantbot Technologies LP Invests $1.04 Million in Premier, Inc. (NASDAQ:PINC)

Quantbot Technologies LP acquired a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 52,189 shares of the company's stock, valued at approximately $1,044,000. Quantbot Technologies LP owned about 0.05% of Premier at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Arizona State Retirement System raised its holdings in Premier by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 33,542 shares of the company's stock valued at $626,000 after acquiring an additional 653 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in Premier by 37.0% in the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company's stock valued at $50,000 after purchasing an additional 721 shares during the last quarter. Comerica Bank lifted its position in Premier by 0.9% during the first quarter. Comerica Bank now owns 77,422 shares of the company's stock worth $1,711,000 after buying an additional 728 shares during the period. GAMMA Investing LLC boosted its stake in Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock worth $27,000 after buying an additional 780 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in Premier by 7.1% in the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company's stock valued at $239,000 after buying an additional 795 shares during the period. Hedge funds and other institutional investors own 74.41% of the company's stock.

Premier Stock Performance

Premier stock traded up $0.16 during trading hours on Friday, hitting $22.90. 443,240 shares of the stock were exchanged, compared to its average volume of 902,824. The stock has a market capitalization of $2.20 billion, a P/E ratio of 16.84, a P/E/G ratio of 10.30 and a beta of 0.40. The business's 50-day moving average is $20.88 and its two-hundred day moving average is $19.97. Premier, Inc. has a 12 month low of $17.95 and a 12 month high of $23.56.

Premier (NASDAQ:PINC - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Premier had a return on equity of 10.74% and a net margin of 11.41%. The company had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm's quarterly revenue was down 7.8% on a year-over-year basis. On average, equities analysts predict that Premier, Inc. will post 1.09 earnings per share for the current fiscal year.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, November 29th. Premier's payout ratio is currently 61.77%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research note on Monday, September 9th. Barclays raised their price objective on Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Robert W. Baird boosted their target price on shares of Premier from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. StockNews.com lowered Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Finally, Benchmark cut Premier from a "buy" rating to a "hold" rating in a research note on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $21.36.

Insider Activity

In other Premier news, General Counsel David L. Klatsky sold 1,870 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.28, for a total transaction of $37,923.60. Following the completion of the transaction, the general counsel now owns 100,597 shares of the company's stock, valued at $2,040,107.16. This represents a 1.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Alkire sold 17,415 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $23.16, for a total transaction of $403,331.40. Following the sale, the chief executive officer now directly owns 520,728 shares in the company, valued at $12,060,060.48. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,537 shares of company stock worth $2,915,552 over the last quarter. 0.96% of the stock is currently owned by company insiders.

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.