Charles Schwab Investment Management Inc. Purchases 71,624 Shares of Premier, Inc. (NASDAQ:PINC)

Charles Schwab Investment Management Inc. lifted its position in shares of Premier, Inc. (NASDAQ:PINC) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,813,408 shares of the company’s stock after acquiring an additional 71,624 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.89% of Premier worth $38,444,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PINC. Piper Sandler decreased their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group decreased their target price on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Finally, Robert W. Baird cut their price target on shares of 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, According to data from MarketBeat, Premier has an average rating of “Hold” and a consensus price target of $20.17.

Premier Price Performance

Shares of Premier stock opened at $18.16 on Friday. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The business has a 50-day moving average of $19.85 and a two-hundred day moving average of $20.57. The company has a market capitalization of $1.66 billion, a P/E ratio of -181.58 and a beta of 0.39.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.63%. Premier’s payout ratio is -840.00%.

Insider Buying and Selling

In other news, COO Leigh Anderson sold 20,000 shares of the 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 completion of the sale, the chief operating officer now owns 111,707 shares of the company’s stock, valued at $2,444,149.16. This represents a 15.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the transaction, the director now owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. This trade represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,637 shares of company stock valued at $511,093. 0.96% of the stock is owned by corporate 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.