Premier, Inc. (NASDAQ:PINC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Premier, Inc. (NASDAQ:PINC) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,243,686 shares of the company’s stock after selling 109,294 shares during the period. Bank of New York Mellon Corp owned approximately 1.29% of Premier worth $26,366,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PINC. QRG Capital Management Inc. raised its stake in shares of Premier by 6.7% in the 3rd quarter. QRG Capital Management Inc. now owns 18,657 shares of the company’s stock valued at $373,000 after purchasing an additional 1,171 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Premier by 12.3% during the third quarter. Crossmark Global Holdings Inc. now owns 62,792 shares of the company’s stock valued at $1,256,000 after buying an additional 6,900 shares in the last quarter. KBC Group NV lifted its holdings in Premier by 40.9% during the 3rd quarter. KBC Group NV now owns 4,047 shares of the company’s stock worth $81,000 after buying an additional 1,174 shares during the last quarter. Empowered Funds LLC grew its position in shares of Premier by 27.7% in the 3rd quarter. Empowered Funds LLC now owns 428,076 shares of the company’s stock worth $8,562,000 after acquiring an additional 92,766 shares in the last quarter. Finally, Gladius Capital Management LP increased its holdings in shares of Premier by 262.1% in the 3rd quarter. Gladius Capital Management LP now owns 13,122 shares of the company’s stock valued at $262,000 after acquiring an additional 9,498 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Premier

In other Premier news, COO Leigh Anderson sold 20,000 shares of the company’s 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 sale, the chief operating officer now directly owns 111,707 shares of the company’s stock, valued at approximately $2,444,149.16. This represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Alkire sold 18,374 shares of the firm’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 sale, the chief executive officer now directly owns 502,354 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 42,011 shares of company stock valued at $911,646 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler dropped their price target on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Robert W. Baird reduced their price target on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group dropped their price objective on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.17.

Premier Price Performance

Shares of PINC opened at $18.21 on Monday. The company has a market capitalization of $1.66 billion, a P/E ratio of -182.08 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 business’s 50 day simple moving average is $20.16 and its 200-day simple moving average is $20.64.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.61%. The ex-dividend date is Friday, February 28th. Premier’s payout ratio is -840.00%.

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.