Premier, Inc. (NASDAQ:PINC) Shares Acquired by M&T Bank Corp

M&T Bank Corp lifted its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 18.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,959 shares of the company’s stock after buying an additional 1,905 shares during the period. M&T Bank Corp’s holdings in Premier were worth $253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PINC. Assenagon Asset Management S.A. lifted its holdings in shares of Premier by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after acquiring an additional 245,239 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Premier by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company’s stock worth $34,836,000 after buying an additional 97,458 shares during the period. Empowered Funds LLC increased its stake in Premier by 27.7% during the 3rd quarter. Empowered Funds LLC now owns 428,076 shares of the company’s stock worth $8,562,000 after buying an additional 92,766 shares during the period. Quantinno Capital Management LP increased its stake in Premier by 310.3% during the 3rd quarter. Quantinno Capital Management LP now owns 115,833 shares of the company’s stock worth $2,317,000 after buying an additional 87,601 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Premier during the 3rd quarter worth $1,414,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Performance

NASDAQ PINC opened at $18.16 on Friday. Premier, Inc. has a one year low of $17.23 and a one year high of $23.56. The company has a 50-day simple moving average of $19.85 and a 200-day simple moving average of $20.57. The firm has a market capitalization of $1.66 billion, a PE ratio of -181.58 and a beta of 0.39.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Insider Buying and Selling at Premier

In other Premier news, COO Leigh Anderson sold 20,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.88, for a total transaction of $437,600.00. Following the completion of the transaction, the chief operating officer now directly owns 111,707 shares of the company’s stock, valued at $2,444,149.16. The trade was a 15.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the transaction, the director now directly owns 20,668 shares of the company’s stock, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,637 shares of company stock valued at $511,093 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PINC. Piper Sandler dropped their price target 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. Robert W. Baird dropped their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group dropped their target price on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.17.

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.