Vanguard Group Inc. Sells 406,850 Shares of Premier, Inc. (NASDAQ:PINC)

Vanguard Group Inc. reduced its position in shares of Premier, Inc. (NASDAQ:PINC) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,048,604 shares of the company’s stock after selling 406,850 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Premier worth $234,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PINC. Nordea Investment Management AB boosted its position in shares of Premier by 21.0% in the fourth quarter. Nordea Investment Management AB now owns 256,492 shares of the company’s stock valued at $5,465,000 after acquiring an additional 44,480 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Premier in the 4th quarter valued at about $386,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Premier during the 4th quarter worth approximately $554,000. KBC Group NV increased its holdings in shares of Premier by 38.1% during the fourth quarter. KBC Group NV now owns 5,589 shares of the company’s stock worth $118,000 after purchasing an additional 1,542 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Premier by 70.2% in the third quarter. Jane Street Group LLC now owns 143,803 shares of the company’s stock valued at $2,876,000 after buying an additional 59,295 shares in the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Stock Down 0.5 %

Premier stock opened at $19.44 on Friday. The stock has a market cap of $1.78 billion, a PE ratio of -194.38 and a beta of 0.39. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The business’s 50-day moving average price is $19.05 and its two-hundred day moving average price is $20.45.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, February 28th. Premier’s payout ratio is -840.00%.

Insider Buying and Selling at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the sale, the director now directly owns 20,668 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel David L. Klatsky sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the completion of the transaction, the general counsel now directly owns 90,597 shares of the company’s stock, valued at $1,769,359.41. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,637 shares of company stock worth $268,793 over the last quarter. Corporate insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PINC shares. Canaccord Genuity Group reduced their price target 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 reduced their target price on 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 cut 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 analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.17.

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.