Advisors Asset Management Inc. Purchases 83,831 Shares of Premier, Inc. (NASDAQ:PINC)

Advisors Asset Management Inc. increased its position in Premier, Inc. (NASDAQ:PINC) by 554.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,945 shares of the company’s stock after purchasing an additional 83,831 shares during the quarter. Advisors Asset Management Inc.’s holdings in Premier were worth $2,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in Premier by 61,750.0% in the fourth 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 stake in Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after purchasing an additional 786 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in Premier during the fourth quarter worth $37,000. Smartleaf Asset Management LLC lifted its holdings in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after buying an additional 1,427 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Premier during the third quarter worth $39,000. Institutional investors own 74.41% of the company’s stock.

Analysts Set New Price Targets

PINC has been the subject of a number of analyst reports. Piper Sandler lowered their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Robert W. Baird lowered their target price on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group lowered their target price on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.17.

Premier Price Performance

Shares of PINC stock opened at $18.55 on Friday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -185.48 and a beta of 0.39. The business has a fifty day moving average of $19.60 and a 200 day moving average of $20.51. Premier, Inc. has a 1 year low of $17.23 and a 1 year 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 paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.53%. Premier’s dividend payout ratio (DPR) is -840.00%.

Insider Buying and Selling

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.42, for a total transaction of $53,550.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is currently owned by company insiders.

Premier Company 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.