Victory Capital Management Inc. Sells 161,116 Shares of Premier, Inc. (NASDAQ:PINC)

Victory Capital Management Inc. lowered its stake in Premier, Inc. (NASDAQ:PINC) by 22.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 541,033 shares of the company’s stock after selling 161,116 shares during the quarter. Victory Capital Management Inc. owned about 0.56% of Premier worth $11,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its stake in Premier by 0.8% during the 3rd quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after purchasing an additional 32,193 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Premier by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock valued at $38,444,000 after purchasing an additional 71,624 shares during the period. Empowered Funds LLC increased its stake in Premier by 15.9% in the 4th quarter. Empowered Funds LLC now owns 495,985 shares of the company’s stock worth $10,515,000 after acquiring an additional 67,909 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Premier by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock worth $9,933,000 after acquiring an additional 245,239 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Premier by 21.0% in the 4th quarter. Nordea Investment Management AB now owns 256,492 shares of the company’s stock worth $5,465,000 after acquiring an additional 44,480 shares during the last quarter. Institutional investors own 74.41% of the company’s stock.

Insider Buying and Selling at Premier

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction on 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 $442,708.56. This represents a 10.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.88, for a total value of $437,600.00. Following the transaction, the chief operating officer now directly owns 111,707 shares in the company, valued at $2,444,149.16. The trade was a 15.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,637 shares of company stock valued at $511,093 in the last quarter. 0.96% of the stock is owned by insiders.

Premier Stock Performance

Shares of Premier stock opened at $17.97 on Friday. The stock has a 50 day moving average price of $19.99 and a 200-day moving average price of $20.60. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -179.68 and a beta of 0.39.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.67%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Analysts Set New Price Targets

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

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.