SG Americas Securities LLC Invests $678,000 in Premier, Inc. (NASDAQ:PINC)

SG Americas Securities LLC purchased a new position in shares of Premier, Inc. (NASDAQ:PINC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,895 shares of the company’s stock, valued at approximately $678,000.

A number of other hedge funds have also bought and sold shares of PINC. Abich Financial Wealth Management LLC grew its position in shares of Premier by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock worth $43,000 after acquiring an additional 650 shares in the last quarter. Arizona State Retirement System lifted its stake in Premier by 2.0% during the second quarter. Arizona State Retirement System now owns 33,542 shares of the company’s stock worth $626,000 after purchasing an additional 653 shares during the last quarter. Comerica Bank boosted its holdings in Premier by 0.9% in the first quarter. Comerica Bank now owns 77,422 shares of the company’s stock worth $1,711,000 after purchasing an additional 728 shares during the period. Caxton Associates LP increased its stake in Premier by 1.6% during the second quarter. Caxton Associates LP now owns 69,168 shares of the company’s stock valued at $1,291,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Premier during the first quarter worth $27,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Performance

Shares of PINC opened at $19.35 on Monday. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 9.08 and a beta of 0.41. Premier, Inc. has a one year low of $17.95 and a one year high of $23.01. The stock’s fifty day moving average is $19.90 and its 200-day moving average is $19.80.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, August 20th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Premier’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. Analysts forecast that Premier, Inc. will post 1.04 EPS for the current fiscal year.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 4.34%. Premier’s dividend payout ratio (DPR) is 131.25%.

Insider Buying and Selling at Premier

In other news, CFO Craig S. Mckasson sold 30,000 shares of the business’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 $600,000.00. Following the sale, the chief financial officer now owns 288,110 shares of the company’s stock, valued at approximately $5,762,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $19.62, for a total transaction of $392,400.00. Following the sale, the chief operating officer now owns 131,707 shares of the company’s stock, valued at $2,584,091.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,312 shares of company stock valued at $3,779,250. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PINC shares. Canaccord Genuity Group decreased their price target on shares of Premier from $20.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Benchmark downgraded Premier from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Robert W. Baird lowered their price objective on Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Finally, StockNews.com cut Premier from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.81.

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.