Mutual of America Capital Management LLC Cuts Holdings in Premier, Inc. (NASDAQ:PINC)

Mutual of America Capital Management LLC lowered its stake in Premier, Inc. (NASDAQ:PINC) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,559 shares of the company’s stock after selling 1,207 shares during the period. Mutual of America Capital Management LLC’s holdings in Premier were worth $309,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. grew its holdings in Premier by 6.7% in the third quarter. QRG Capital Management Inc. now owns 18,657 shares of the company’s stock worth $373,000 after purchasing an additional 1,171 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position 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 purchasing an additional 6,900 shares during the period. KBC Group NV lifted its position in Premier by 40.9% during the third quarter. KBC Group NV now owns 4,047 shares of the company’s stock valued at $81,000 after purchasing an additional 1,174 shares during the period. Empowered Funds LLC raised its position in shares of Premier by 27.7% in the third 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 during the period. Finally, Gladius Capital Management LP raised its position in shares of Premier by 262.1% in the third quarter. Gladius Capital Management LP now owns 13,122 shares of the company’s stock worth $262,000 after acquiring an additional 9,498 shares during the period. Institutional investors own 74.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler reduced their price target 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. 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 research report on Wednesday, February 5th. Finally, Canaccord Genuity Group reduced their price target 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. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.17.

Insider Activity

In related news, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Alkire sold 18,374 shares of Premier stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total transaction of $400,553.20. Following the transaction, the chief executive officer now 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 position. 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 quarter. Corporate insiders own 0.96% of the company’s stock.

Premier Stock Performance

Shares of Premier stock opened at $18.57 on Tuesday. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The company has a market capitalization of $1.70 billion, a P/E ratio of -185.68 and a beta of 0.39. The company’s fifty day moving average is $20.16 and its two-hundred day moving average is $20.64.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Friday, February 28th. Premier’s payout ratio is -840.00%.

About Premier

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.