Amalgamated Bank Has $921,000 Position in Premier, Inc. (NASDAQ:PINC)

Amalgamated Bank trimmed its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,353 shares of the company’s stock after selling 7,170 shares during the period. Amalgamated Bank’s holdings in Premier were worth $921,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Premier in the 1st quarter valued at about $27,000. Versant Capital Management Inc boosted its position 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 valued at $40,000 after acquiring an additional 1,554 shares during the period. Abich Financial Wealth Management LLC raised its stake in 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 purchasing an additional 650 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Premier by 141.2% in the 4th quarter. Parallel Advisors LLC now owns 1,980 shares of the company’s stock valued at $44,000 after purchasing an additional 1,159 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Premier during the second quarter worth approximately $47,000. 74.41% of the stock is owned by institutional investors and hedge funds.

Premier Price Performance

Shares of Premier stock opened at $19.99 on Friday. Premier, Inc. has a one year low of $17.95 and a one year high of $23.01. The stock’s 50-day moving average is $20.15 and its 200 day moving average is $19.98. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 9.38 and a beta of 0.40.

Premier (NASDAQ:PINC) last issued its quarterly earnings data 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. Premier had a net margin of 8.88% and a return on equity of 11.69%. The firm had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $308.88 million. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts expect 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. Stockholders of record on Sunday, September 1st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.20%. Premier’s payout ratio is 131.25%.

Analyst Ratings Changes

PINC has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their price target on Premier from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Benchmark cut Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. StockNews.com lowered Premier from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Finally, Robert W. Baird reduced their price objective on shares of Premier from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.94.

Insider Activity at Premier

In other news, CFO Craig S. Mckasson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $20.41, for a total value of $204,100.00. Following the completion of the transaction, the chief financial officer now directly owns 263,699 shares of the company’s stock, valued at $5,382,096.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Craig S. Mckasson sold 10,000 shares of Premier stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $20.41, for a total value of $204,100.00. Following the completion of the sale, the chief financial officer now owns 263,699 shares of the company’s stock, valued at approximately $5,382,096.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Craig S. Mckasson sold 30,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $20.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 166,312 shares of company stock valued at $3,358,500 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

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.