Signaturefd LLC Trims Stock Position in Premier, Inc. (NASDAQ:PINC)

Signaturefd LLC lessened its stake in shares of Premier, Inc. (NASDAQ:PINC) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,304 shares of the company’s stock after selling 682 shares during the quarter. Signaturefd LLC’s holdings in Premier were worth $126,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Premier during the 1st quarter worth $27,000. GAMMA Investing LLC grew its stake in Premier by 137.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after acquiring an additional 780 shares during the last quarter. Versant Capital Management Inc grew its stake in Premier by 265.2% in the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after acquiring an additional 1,554 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in Premier by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after acquiring an additional 650 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Premier in the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Stock Performance

NASDAQ PINC opened at $20.11 on Tuesday. Premier, Inc. has a one year low of $17.95 and a one year high of $23.01. The company’s 50 day moving average price is $19.89 and its 200 day moving average price is $19.68. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 9.31 and a beta of 0.41.

Premier (NASDAQ:PINC) last issued its quarterly earnings data 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. Premier had a net margin of 8.88% and a return on equity of 11.69%. The company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $308.88 million. During the same quarter last year, the company earned $0.70 earnings per share. Premier’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts forecast that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, November 29th. Premier’s payout ratio is currently 81.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PINC shares. JPMorgan Chase & Co. reduced their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Robert W. Baird reduced their target price on shares of Premier from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Benchmark lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. StockNews.com upgraded shares of Premier from a “hold” rating to a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group reduced their target price on shares of Premier from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.81.

Insider Transactions at Premier

In related news, CEO Michael J. Alkire sold 18,771 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $21.12, for a total transaction of $396,443.52. Following the transaction, the chief executive officer now directly owns 543,927 shares in the company, valued at $11,487,738.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Premier news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total value of $392,400.00. Following the sale, the chief operating officer now directly owns 131,707 shares in the company, valued at approximately $2,584,091.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Alkire sold 18,771 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $21.12, for a total value of $396,443.52. Following the completion of the sale, the chief executive officer now owns 543,927 shares in the company, valued at $11,487,738.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,212 shares of company stock valued at $3,134,991. 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.