Premier, Inc. (NASDAQ:PINC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,500 shares of the company’s stock after selling 4,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Premier were worth $986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PINC. Creative Planning lifted its stake in Premier by 13.8% during the third quarter. Creative Planning now owns 58,018 shares of the company’s stock valued at $1,160,000 after purchasing an additional 7,038 shares during the last quarter. Impact Partnership Wealth LLC lifted its position in shares of Premier by 7.1% in the 3rd quarter. Impact Partnership Wealth LLC now owns 11,945 shares of the company’s stock valued at $239,000 after acquiring an additional 795 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Premier in the 3rd quarter valued at approximately $4,466,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Premier by 64.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,067 shares of the company’s stock valued at $501,000 after acquiring an additional 9,796 shares in the last quarter. Finally, Integrated Advisors Network LLC purchased a new stake in shares of Premier in the 3rd quarter valued at approximately $237,000. 74.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PINC shares. StockNews.com downgraded shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Robert W. Baird dropped their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler dropped their price target 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 dropped their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, February 5th. Finally, Barclays increased their price target on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Insider Buying and Selling at Premier

In other news, Director John T. Bigalke sold 1,136 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $22.19, for a total transaction of $25,207.84. Following the completion of the transaction, the director now directly owns 23,846 shares of the company’s stock, valued at approximately $529,142.74. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of the firm’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 transaction, the director now directly owns 20,668 shares of the company’s stock, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,010 shares of company stock valued at $916,911 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Premier Trading Down 1.5 %

NASDAQ PINC opened at $17.77 on Tuesday. Premier, Inc. has a 1 year low of $17.69 and a 1 year high of $23.56. The company has a fifty day simple moving average of $21.12 and a 200 day simple moving average of $20.82. The company has a market cap of $1.71 billion, a P/E ratio of -177.68 and a beta of 0.43.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio (DPR) is presently -839.92%.

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.