Premier, Inc. (NASDAQ:PINC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in Premier, Inc. (NASDAQ:PINC) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 794,099 shares of the company’s stock after selling 20,659 shares during the quarter. Bank of America Corp DE’s holdings in Premier were worth $16,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PINC. Brooklyn Investment Group raised its holdings in shares of Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after purchasing an additional 1,235 shares during the period. SRS Capital Advisors Inc. raised its stake in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after acquiring an additional 786 shares during the period. Keystone Financial Group Inc. bought a new position in Premier in the fourth quarter worth about $37,000. Smartleaf Asset Management LLC boosted its stake in Premier by 297.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock valued at $40,000 after acquiring an additional 1,427 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Premier by 28.0% in the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after acquiring an additional 446 shares during the period. 74.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Premier

In other news, General Counsel David L. Klatsky sold 10,982 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the sale, the general counsel now directly owns 76,093 shares of the company’s stock, valued at approximately $1,730,354.82. This represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 22,119 shares of company stock valued at $464,974. 0.96% of the stock is currently owned by corporate insiders.

Premier Price Performance

Shares of PINC stock opened at $23.10 on Wednesday. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -230.98 and a beta of 0.54. The business has a 50 day simple moving average of $20.19 and a 200 day simple moving average of $20.69.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given 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 yield of 3.64%. Premier’s dividend payout ratio (DPR) is presently 147.37%.

Analysts Set New Price Targets

PINC has been the topic of several recent research reports. Robert W. Baird raised their price target on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Piper Sandler cut their target price on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Canaccord Genuity Group boosted their price target on shares of Premier from $19.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Premier presently has a consensus rating of “Hold” and an average target price of $21.20.

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.