Arizona State Retirement System Has $531,000 Holdings in Premier, Inc. (NASDAQ:PINC)

Arizona State Retirement System decreased its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,545 shares of the company’s stock after selling 1,538 shares during the quarter. Arizona State Retirement System’s holdings in Premier were worth $531,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. American Century Companies Inc. lifted its stake 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 buying an additional 104,452 shares in the last quarter. Alps Advisors Inc. increased its holdings in Premier by 7.8% during the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company’s stock worth $17,760,000 after buying an additional 66,391 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Premier by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock worth $16,162,000 after purchasing an additional 21,861 shares during the last quarter. Northern Trust Corp increased its stake in shares of Premier by 20.5% during the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company’s stock worth $15,725,000 after purchasing an additional 126,217 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Premier by 23.6% during the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company’s stock worth $15,255,000 after purchasing an additional 137,306 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PINC. Canaccord Genuity Group increased 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, May 8th. Piper Sandler lifted their price objective on shares of Premier from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird lifted their price target on shares of Premier from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.20.

Insider Activity

In other news, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $22.88, for a total transaction of $45,760.00. Following the transaction, the director directly owned 18,668 shares of the company’s stock, valued at $427,123.84. The trade was a 9.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the transaction, the general counsel directly owned 76,093 shares in the company, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,119 shares of company stock worth $321,676 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Premier Stock Down 0.1%

Shares of PINC stock opened at $20.93 on Tuesday. The stock has a fifty day moving average of $22.33 and a 200 day moving average of $20.71. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 36.72 and a beta of 0.56.

Premier Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.01%. Premier’s payout ratio is presently 147.37%.

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.