CIBC Asset Management Inc Has $194,000 Stock Position in Premier, Inc. (NASDAQ:PINC)

CIBC Asset Management Inc reduced its position in shares of Premier, Inc. (NASDAQ:PINC) by 15.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,388 shares of the company’s stock after selling 1,904 shares during the period. CIBC Asset Management Inc’s holdings in Premier were worth $194,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PINC. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Premier during the 1st quarter worth approximately $27,000. Versant Capital Management Inc raised its stake in shares of Premier by 265.2% in the second quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock worth $40,000 after purchasing an additional 1,554 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Premier by 50.0% in the first quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock worth $43,000 after purchasing an additional 650 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Premier by 141.2% in the fourth quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock worth $44,000 after purchasing an additional 1,159 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Premier in the second quarter worth approximately $56,000. 74.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Premier

In other Premier news, CEO Michael J. Alkire sold 2,625 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total transaction of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 580,073 shares of the company’s stock, valued at $11,601,460. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael J. Alkire sold 2,625 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 580,073 shares of the company’s stock, valued at $11,601,460. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Alkire sold 17,375 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $20.13, for a total value of $349,758.75. Following the completion of the transaction, the chief executive officer now directly owns 562,698 shares of the company’s stock, valued at $11,327,110.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,922 shares of company stock valued at $2,717,392. Company insiders own 0.85% of the company’s stock.

Premier Trading Down 3.6 %

Shares of NASDAQ PINC opened at $19.70 on Tuesday. The stock has a fifty day simple moving average of $19.82 and a two-hundred day simple moving average of $20.08. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.24. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 9.82 and a beta of 0.40.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.25. Premier had a return on equity of 11.69% and a net margin of 8.88%. The business had revenue of $350.30 million during the quarter, compared to analyst estimates of $308.88 million. During the same period in the prior year, the company earned $0.70 earnings per share. Premier’s revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Premier, Inc. will post 1.02 EPS for the current year.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Friday, August 30th. Premier’s dividend payout ratio (DPR) is 131.25%.

Analyst Ratings Changes

Several analysts have recently commented on the company. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. JPMorgan Chase & Co. lowered their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday. Canaccord Genuity Group lowered their price objective on Premier from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Robert W. Baird reduced their target price on Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Finally, Benchmark lowered Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.94.

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.