State of New Jersey Common Pension Fund D Lowers Stock Holdings in Premier, Inc. (NASDAQ:PINC)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 94,133 shares of the company’s stock after selling 4,947 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Premier worth $1,996,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Premier by 0.8% during the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after purchasing an additional 32,193 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Premier by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company’s stock valued at $34,836,000 after acquiring an additional 97,458 shares in the last quarter. Empowered Funds LLC increased its position in shares of Premier by 15.9% during the fourth quarter. Empowered Funds LLC now owns 495,985 shares of the company’s stock valued at $10,515,000 after acquiring an additional 67,909 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Premier by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock worth $9,933,000 after purchasing an additional 245,239 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in Premier by 26.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 327,551 shares of the company’s stock worth $6,551,000 after purchasing an additional 68,112 shares during the period. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINC has been the subject of a number of research analyst reports. 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 report on Wednesday, November 6th. Robert W. Baird cut their target price 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. Piper Sandler cut their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Canaccord Genuity Group cut their target price on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.50.

Insider Activity at Premier

In related news, COO Leigh Anderson sold 20,000 shares of Premier stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.88, for a total transaction of $437,600.00. Following the transaction, the chief operating officer now owns 111,707 shares in the company, valued at approximately $2,444,149.16. The trade was a 15.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Bigalke sold 1,136 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the sale, the director now owns 23,846 shares in the company, valued at approximately $529,142.74. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is owned by corporate insiders.

Premier Stock Performance

PINC opened at $18.61 on Monday. Premier, Inc. has a fifty-two week low of $17.69 and a fifty-two week high of $23.56. The firm’s fifty day moving average is $20.87 and its 200 day moving average is $20.78. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -186.08 and a beta of 0.43.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio (DPR) is -840.00%.

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.