Premier, Inc. (NASDAQ:PINC) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Premier, Inc. (NASDAQ:PINC) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,518 shares of the company’s stock after selling 1,887 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Premier were worth $435,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Brooklyn Investment Group increased its holdings in Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after purchasing an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in shares of Premier during the 4th quarter valued at about $37,000. Smartleaf Asset Management LLC lifted its position in Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after acquiring an additional 1,427 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Premier in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Stock Performance

NASDAQ:PINC opened at $19.19 on Friday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -191.88 and a beta of 0.39. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56. The stock has a 50-day simple moving average of $19.40 and a 200 day simple moving average of $20.47.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s dividend payout ratio is currently -840.00%.

Analyst Upgrades and Downgrades

PINC has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their target price on shares of 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 dropped 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. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.17.

Insider Buying and Selling

In related news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the sale, the director now owns 20,668 shares in the company, valued at $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.