Thrivent Financial for Lutherans Has $1.58 Million Holdings in Premier, Inc. (NASDAQ:PINC)

Thrivent Financial for Lutherans decreased its position in Premier, Inc. (NASDAQ:PINC) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 74,287 shares of the company’s stock after selling 8,027 shares during the period. Thrivent Financial for Lutherans’ holdings in Premier were worth $1,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kennondale Capital Management LLC bought a new position in shares of Premier during the fourth quarter worth about $675,000. Corient Private Wealth LLC acquired a new position in Premier during the 4th quarter worth approximately $227,000. Brandes Investment Partners LP grew its stake in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after acquiring an additional 464,710 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Premier in the fourth quarter valued at approximately $386,000. Finally, HighTower Advisors LLC lifted its position in shares of Premier by 9.3% in the fourth quarter. HighTower Advisors LLC now owns 35,450 shares of the company’s stock worth $752,000 after purchasing an additional 3,020 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Helen M. Boudreau sold 2,500 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PINC. Canaccord Genuity Group decreased their target price on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Robert W. Baird reduced their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their target price on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Premier presently has an average rating of “Hold” and a consensus target price of $20.17.

Premier Stock Down 0.3 %

Premier stock opened at $19.14 on Monday. The company’s 50-day moving average price is $19.33 and its two-hundred day moving average price is $20.48. 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 Announces Dividend

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

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.