Connor Clark & Lunn Investment Management Ltd. Invests $386,000 in Premier, Inc. (NASDAQ:PINC)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Premier, Inc. (NASDAQ:PINC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,223 shares of the company’s stock, valued at approximately $386,000.

Several other hedge funds have also recently added to or reduced their stakes in PINC. Quest Partners LLC increased its holdings in shares of Premier by 356,500.0% during the third quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $71,000 after purchasing an additional 3,565 shares during the period. Advisors Asset Management Inc. grew its position in Premier by 812.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 15,114 shares of the company’s stock valued at $302,000 after buying an additional 13,457 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Premier during the 3rd quarter valued at about $316,000. Charles Schwab Investment Management Inc. raised its position in shares of Premier by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company’s stock worth $34,836,000 after buying an additional 97,458 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Premier by 17.5% in the 3rd quarter. Cerity Partners LLC now owns 86,669 shares of the company’s stock worth $1,733,000 after acquiring an additional 12,879 shares during the period. Institutional investors own 74.41% of the company’s stock.

Premier Stock Performance

Shares of NASDAQ:PINC opened at $18.55 on Monday. The company has a market capitalization of $1.69 billion, a PE ratio of -185.48 and a beta of 0.39. The stock has a fifty day moving average of $19.60 and a 200-day moving average of $20.51. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s dividend payout ratio is -840.00%.

Analyst Upgrades and Downgrades

PINC has been the topic of a number of research analyst reports. Piper Sandler lowered their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Canaccord Genuity Group lowered their price target on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Finally, Robert W. Baird cut their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier presently has an average rating of “Hold” and an average target price of $20.17.

Insider Activity at Premier

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now directly owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. This represents 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. 0.96% of the stock is currently 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.