Premier, Inc. (NASDAQ:PINC) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its holdings in Premier, Inc. (NASDAQ:PINC) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,749 shares of the company’s stock after selling 605 shares during the quarter. Wells Fargo & Company MN’s holdings in Premier were worth $101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Premier in the 4th quarter worth approximately $386,000. Steward Partners Investment Advisory LLC acquired a new position in Premier in the 4th quarter worth approximately $554,000. KBC Group NV increased its holdings in Premier by 38.1% in the 4th quarter. KBC Group NV now owns 5,589 shares of the company’s stock worth $118,000 after buying an additional 1,542 shares during the period. Kera Capital Partners Inc. acquired a new position in Premier in the 4th quarter worth approximately $248,000. Finally, Caprock Group LLC acquired a new position in Premier in the 4th quarter worth approximately $292,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

Insider Transactions at Premier

In other news, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the transaction, the general counsel now owns 76,093 shares in the company, valued at $1,730,354.82. The trade was a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 22,119 shares of company stock worth $464,974 in the last quarter. Company insiders own 0.96% of the company’s stock.

Premier Stock Performance

Shares of PINC stock opened at $23.07 on Monday. The stock’s fifty day moving average is $19.51 and its two-hundred day moving average is $20.55. The firm has a market capitalization of $2.11 billion, a P/E ratio of -230.68 and a beta of 0.54. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.64%. Premier’s dividend payout ratio is presently -840.00%.

Analysts Set New Price Targets

PINC has been the topic of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler dropped their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Robert W. Baird dropped their price objective 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. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, Premier currently has a consensus rating of “Hold” and an average price target of $20.60.

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.