Raymond James Financial Inc. Takes $286,000 Position in Premier, Inc. (NASDAQ:PINC)

Raymond James Financial Inc. acquired a new position in Premier, Inc. (NASDAQ:PINC) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 13,509 shares of the company’s stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Premier in the 4th quarter worth $386,000. Steward Partners Investment Advisory LLC bought a new position in shares of Premier during the fourth quarter valued at $554,000. KBC Group NV boosted its position in shares of Premier by 38.1% during the fourth quarter. KBC Group NV now owns 5,589 shares of the company’s stock valued at $118,000 after buying an additional 1,542 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in Premier in the 4th quarter worth about $248,000. Finally, Caprock Group LLC bought a new stake in Premier in the 4th quarter worth about $292,000. 74.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

PINC has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Canaccord Genuity Group raised their target price on shares of Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Piper Sandler cut their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.60.

Insider Buying and Selling at Premier

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the sale, the general counsel now directly 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 document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 22,119 shares of company stock worth $464,974 in the last three months. 0.96% of the stock is currently owned by company insiders.

Premier Stock Performance

Shares of NASDAQ:PINC opened at $23.07 on Monday. The stock’s 50-day simple moving average is $19.51 and its two-hundred day simple moving average is $20.55. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -230.68 and a beta of 0.54. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Announces Dividend

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

Premier 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.