KLP Kapitalforvaltning AS Invests $996,000 in Premier, Inc. (NASDAQ:PINC)

KLP Kapitalforvaltning AS bought a new stake in shares of Premier, Inc. (NASDAQ:PINC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 47,000 shares of the company’s stock, valued at approximately $996,000.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Premier by 0.8% in the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after buying an additional 32,193 shares during the period. American Century Companies Inc. raised its holdings in Premier by 4.2% in the 4th quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock valued at $55,093,000 after acquiring an additional 104,452 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Premier by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock worth $38,444,000 after acquiring an additional 71,624 shares during the period. Brandes Investment Partners LP increased its position in shares of Premier by 123.1% during the fourth quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after purchasing an additional 464,710 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Premier by 15.9% in the fourth quarter. Empowered Funds LLC now owns 495,985 shares of the company’s stock valued at $10,515,000 after purchasing an additional 67,909 shares in the last quarter. 74.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PINC shares. Canaccord Genuity Group decreased 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. Robert W. Baird lowered their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler cut 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 Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Premier has an average rating of “Hold” and a consensus target price of $20.17.

Premier Stock Down 0.3 %

Shares of PINC stock opened at $19.14 on Monday. The company has a market capitalization of $1.75 billion, a P/E ratio of -191.38 and a beta of 0.39. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The firm has a 50-day moving average price of $19.33 and a 200 day moving average price of $20.48.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.39%. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Insider Activity at Premier

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the business’s stock in a transaction on 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 owns 20,668 shares of the company’s stock, valued at approximately $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

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.