Rhumbline Advisers Lowers Stake in Premier, Inc. (NASDAQ:PINC)

Rhumbline Advisers lessened its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,748 shares of the company's stock after selling 17,274 shares during the quarter. Rhumbline Advisers owned 0.28% of Premier worth $5,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PINC. Brooklyn Investment Group increased its stake in shares of Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after buying an additional 1,235 shares during the period. Keystone Financial Group Inc. purchased a new position in shares of Premier in the 4th quarter valued at $37,000. Wilmington Savings Fund Society FSB bought a new position in shares of Premier in the 3rd quarter worth $39,000. Van ECK Associates Corp lifted its stake in shares of Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock worth $43,000 after purchasing an additional 446 shares during the last quarter. Finally, Quarry LP boosted its position in Premier by 576.7% during the third quarter. Quarry LP now owns 2,179 shares of the company's stock valued at $44,000 after purchasing an additional 1,857 shares in the last quarter. Institutional investors own 74.41% of the company's stock.

Premier Price Performance

PINC traded up $0.14 during trading on Friday, reaching $18.18. 1,639,826 shares of the company's stock were exchanged, compared to its average volume of 1,354,695. Premier, Inc. has a 1 year low of $17.69 and a 1 year high of $23.56. The company's fifty day simple moving average is $20.55 and its 200-day simple moving average is $20.72. The stock has a market capitalization of $1.66 billion, a P/E ratio of -181.78 and a beta of 0.43.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.62%. Premier's dividend payout ratio is presently -840.00%.

Insider Buying and Selling at Premier

In related news, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Alkire sold 18,374 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $21.80, for a total value of $400,553.20. Following the completion of the transaction, the chief executive officer now directly owns 502,354 shares of the company's stock, valued at $10,951,317.20. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,010 shares of company stock valued at $916,911. 0.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PINC has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price target on Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Piper Sandler reduced their target price on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group lowered their price target on Premier from $21.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded shares of Premier from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Barclays lifted their target price on shares of Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock 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.