BNP Paribas Financial Markets Acquires 46,302 Shares of Premier, Inc. (NASDAQ:PINC)

BNP Paribas Financial Markets raised its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 162.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,863 shares of the company’s stock after purchasing an additional 46,302 shares during the quarter. BNP Paribas Financial Markets’ holdings in Premier were worth $1,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jane Street Group LLC increased its stake in Premier by 126.9% during the 4th quarter. Jane Street Group LLC now owns 326,254 shares of the company’s stock valued at $6,917,000 after purchasing an additional 182,451 shares in the last quarter. AdvisorShares Investments LLC bought a new stake in Premier during the 4th quarter valued at $470,000. Northern Trust Corp increased its stake in Premier by 20.5% during the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company’s stock valued at $15,725,000 after purchasing an additional 126,217 shares in the last quarter. Aquatic Capital Management LLC increased its stake in Premier by 98.1% during the 4th quarter. Aquatic Capital Management LLC now owns 28,124 shares of the company’s stock valued at $596,000 after purchasing an additional 13,924 shares in the last quarter. Finally, Syon Capital LLC bought a new stake in Premier during the 4th quarter valued at $257,000. Institutional investors own 74.41% of the company’s stock.

Analysts Set New Price Targets

PINC has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group upped their target price 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. Finally, Robert W. Baird upped their target price on shares of Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.20.

Premier Price Performance

NASDAQ PINC opened at $23.12 on Monday. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -231.18 and a beta of 0.54. The company has a fifty day moving average price of $19.99 and a 200-day moving average price of $20.65.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.63%. Premier’s payout ratio is 147.37%.

Insider Transactions at Premier

In related news, General Counsel David L. Klatsky sold 10,982 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the transaction, the general counsel now owns 76,093 shares in the company, valued at approximately $1,730,354.82. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 22,119 shares of company stock worth $464,974 in the last quarter. 0.96% of the stock is currently owned by corporate insiders.

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.