Louisiana State Employees Retirement System Has $986,000 Holdings in Premier, Inc. (NASDAQ:PINC)

Louisiana State Employees Retirement System lessened its stake in Premier, Inc. (NASDAQ:PINC) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,500 shares of the company’s stock after selling 4,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Premier were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PINC. Brooklyn Investment Group grew its position in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares during the period. Keystone Financial Group Inc. acquired a new stake in shares of Premier during the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier during the 3rd quarter worth approximately $39,000. Quarry LP grew its position in shares of Premier by 576.7% during the 3rd quarter. Quarry LP now owns 2,179 shares of the company’s stock worth $44,000 after buying an additional 1,857 shares during the period. Finally, Quest Partners LLC grew its position in shares of Premier by 356,500.0% during the 3rd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $71,000 after buying an additional 3,565 shares during the period. Institutional investors and hedge funds own 74.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PINC. Robert W. Baird lowered their price target on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Piper Sandler reduced their price objective 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. Barclays lifted their price objective 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. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group cut 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. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Insiders Place Their Bets

In other Premier news, CEO Michael J. Alkire sold 18,374 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $21.80, for a total transaction of $400,553.20. Following the sale, the chief executive officer now directly owns 502,354 shares of the company’s stock, valued at approximately $10,951,317.20. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John T. Bigalke sold 1,136 shares of the 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 in the company, valued at $529,142.74. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,010 shares of company stock valued at $916,911. 0.96% of the stock is currently owned by corporate insiders.

Premier Stock Down 1.5 %

NASDAQ PINC opened at $17.77 on Tuesday. Premier, Inc. has a 12-month low of $17.69 and a 12-month high of $23.56. The company has a market capitalization of $1.71 billion, a PE ratio of -177.68 and a beta of 0.43. The firm’s 50 day moving average is $21.12 and its 200-day moving average is $20.82.

Premier Announces Dividend

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