Sei Investments Co. Reduces Holdings in Premier, Inc. (NASDAQ:PINC)

Sei Investments Co. reduced its stake in Premier, Inc. (NASDAQ:PINC) by 28.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,103 shares of the company’s stock after selling 32,609 shares during the period. Sei Investments Co. owned about 0.08% of Premier worth $1,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Carolina Wealth Advisors LLC increased its stake in shares of Premier by 79.5% in the first quarter. Carolina Wealth Advisors LLC now owns 264,696 shares of the company’s stock worth $5,850,000 after buying an additional 117,242 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Premier by 31.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 532,915 shares of the company’s stock valued at $11,916,000 after acquiring an additional 126,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Premier during the first quarter worth about $1,686,000. SG Americas Securities LLC boosted its holdings in shares of Premier by 1,496.5% during the first quarter. SG Americas Securities LLC now owns 94,734 shares of the company’s stock worth $2,094,000 after purchasing an additional 88,800 shares during the period. Finally, US Bancorp DE increased its holdings in Premier by 8,726.8% during the 1st quarter. US Bancorp DE now owns 374,434 shares of the company’s stock valued at $8,275,000 after purchasing an additional 370,192 shares during the period. Institutional investors own 74.41% of the company’s stock.

Insider Activity

In related news, CFO Craig S. Mckasson sold 30,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer now directly owns 288,110 shares of the company’s stock, valued at approximately $5,762,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Craig S. Mckasson sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $20.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer now directly owns 288,110 shares in the company, valued at $5,762,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Alkire sold 1,264 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $20.01, for a total value of $25,292.64. Following the completion of the transaction, the chief executive officer now directly owns 558,143 shares in the company, valued at $11,168,441.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,312 shares of company stock worth $3,779,250 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Premier Price Performance

Shares of Premier stock opened at $19.19 on Friday. Premier, Inc. has a 1 year low of $17.95 and a 1 year high of $23.01. The company has a 50-day moving average of $20.07 and a 200 day moving average of $19.92. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 9.42 and a beta of 0.41.

Premier (NASDAQ:PINC) last released its earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.25. The firm had revenue of $350.30 million during the quarter, compared to analyst estimates of $308.88 million. Premier had a net margin of 8.88% and a return on equity of 11.69%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. On average, equities analysts anticipate that Premier, Inc. will post 1.04 EPS for the current year.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a $0.21 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.38%. Premier’s dividend payout ratio is currently 131.25%.

Analyst Upgrades and Downgrades

PINC has been the subject of several research analyst reports. Robert W. Baird dropped their price objective on Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Benchmark cut shares of Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Canaccord Genuity Group dropped their target price on shares of Premier from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.81.

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.