HighTower Advisors LLC Grows Stock Holdings in Premier, Inc. (NASDAQ:PINC)

HighTower Advisors LLC grew its position in shares of Premier, Inc. (NASDAQ:PINC) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,450 shares of the company’s stock after purchasing an additional 3,020 shares during the period. HighTower Advisors LLC’s holdings in Premier were worth $752,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Premier by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after acquiring an additional 245,239 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Premier by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company’s stock worth $34,836,000 after acquiring an additional 97,458 shares during the period. Quantinno Capital Management LP increased its position in Premier by 310.3% during the 3rd quarter. Quantinno Capital Management LP now owns 115,833 shares of the company’s stock valued at $2,317,000 after purchasing an additional 87,601 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in Premier in the 4th quarter worth $1,570,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Premier in the 3rd quarter worth about $1,414,000. 74.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Premier

In related news, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the completion of the transaction, the director now directly owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. This trade represents a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Premier Stock Down 0.3 %

PINC stock opened at $19.14 on Friday. The business’s 50-day moving average price is $19.33 and its 200-day moving average price is $20.47. The stock has a market cap of $1.75 billion, a P/E ratio of -191.38 and a beta of 0.39. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.56.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a $0.21 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 4.39%. Premier’s payout ratio is -840.00%.

Analysts Set New Price Targets

Several analysts have weighed in on PINC shares. Robert W. Baird cut their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group reduced their price objective 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. Finally, Piper Sandler dropped their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus 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.