4,521 Shares in Premier, Inc. (NASDAQ:PINC) Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Premier, Inc. (NASDAQ:PINC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,521 shares of the company’s stock, valued at approximately $96,000.

Several other institutional investors also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in shares of Premier during the 4th quarter valued at about $996,000. American Century Companies Inc. grew its holdings in Premier by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock valued at $55,093,000 after purchasing an additional 104,452 shares during the period. Advisors Asset Management Inc. increased its position in Premier by 554.7% during the fourth quarter. Advisors Asset Management Inc. now owns 98,945 shares of the company’s stock worth $2,098,000 after purchasing an additional 83,831 shares during the last quarter. Kennondale Capital Management LLC purchased a new position in shares of Premier in the 4th quarter worth $675,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Premier in the 4th quarter worth $227,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PINC. Robert W. Baird dropped their price target on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group cut their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler decreased their price objective 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

Insider Activity at Premier

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction dated 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 $442,708.56. This represents a 10.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

Premier Stock Performance

Premier stock opened at $19.55 on Thursday. The firm has a market capitalization of $1.79 billion, a PE ratio of -195.48 and a beta of 0.39. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56. The stock’s 50 day moving average price is $19.17 and its 200 day moving average price is $20.46.

Premier Dividend Announcement

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 $0.21 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 4.30%. Premier’s dividend payout ratio (DPR) is presently -840.00%.

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.