Steward Partners Investment Advisory LLC Takes Position in Premier, Inc. (NASDAQ:PINC)

Steward Partners Investment Advisory LLC purchased a new position in Premier, Inc. (NASDAQ:PINC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,125 shares of the company’s stock, valued at approximately $554,000.

Several other hedge funds have also recently added to or reduced their stakes in PINC. Brooklyn Investment Group grew its stake in Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares during the last quarter. Keystone Financial Group Inc. bought a new stake in shares of Premier during the 4th quarter valued at $37,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Premier during the 3rd quarter valued at $39,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Premier by 297.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock valued at $40,000 after buying an additional 1,427 shares during the period. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Performance

Shares of Premier stock opened at $18.34 on Wednesday. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56. The stock has a 50 day moving average price of $20.05 and a two-hundred day moving average price of $20.62. The stock has a market capitalization of $1.67 billion, a PE ratio of -183.38 and a beta of 0.39.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.58%. Premier’s dividend payout ratio (DPR) is currently -840.00%.

Wall Street Analyst Weigh In

PINC has been the topic of several research reports. Canaccord Genuity Group cut their target price on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research 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 for the company in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently 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 business’s 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 completion of the transaction, the director now directly owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the stock in a transaction that occurred 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 $2,444,149.16. The trade was a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,637 shares of company stock worth $511,093. 0.96% of the stock is owned by company insiders.

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.