PNC Financial Services Group Inc. Grows Stock Position in Premier, Inc. (NASDAQ:PINC)

PNC Financial Services Group Inc. lifted its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 45.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,674 shares of the company’s stock after purchasing an additional 2,712 shares during the period. PNC Financial Services Group Inc.’s holdings in Premier were worth $184,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PINC. Brooklyn Investment Group increased its position in 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 purchasing an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in shares of Premier during the fourth quarter worth about $37,000. Smartleaf Asset Management LLC raised its position in shares of Premier by 297.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock valued at $40,000 after buying an additional 1,427 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Premier during the third quarter valued at approximately $39,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Down 0.9 %

NASDAQ:PINC opened at $18.55 on Monday. The company has a market cap of $1.69 billion, a P/E ratio of -185.48 and a beta of 0.39. The firm’s 50 day moving average is $19.60 and its two-hundred day moving average is $20.51. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s payout ratio is currently -840.00%.

Insider Activity at Premier

In other news, 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 value of $53,550.00. Following the transaction, the director now directly owns 20,668 shares in the company, valued at $442,708.56. This trade represents a 10.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PINC shares. Canaccord Genuity Group lowered their target price on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird decreased their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Eight 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 target price of $20.17.

Premier Profile

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.