WBI Investments LLC Reduces Holdings in Premier, Inc. $PINC

WBI Investments LLC trimmed its position in shares of Premier, Inc. (NASDAQ:PINC) by 12.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,672 shares of the company’s stock after selling 2,726 shares during the quarter. WBI Investments LLC’s holdings in Premier were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PINC. Royal Bank of Canada boosted its stake in Premier by 2,482.1% during the first quarter. Royal Bank of Canada now owns 461,445 shares of the company’s stock worth $8,896,000 after buying an additional 443,574 shares during the period. Millennium Management LLC lifted its position in shares of Premier by 101.2% during the first quarter. Millennium Management LLC now owns 809,939 shares of the company’s stock worth $15,616,000 after purchasing an additional 407,373 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in shares of Premier during the first quarter valued at $6,414,000. American Century Companies Inc. boosted its stake in shares of Premier by 11.3% during the first quarter. American Century Companies Inc. now owns 2,891,710 shares of the company’s stock valued at $55,752,000 after purchasing an additional 292,979 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Premier by 249.8% during the fourth quarter. Quantinno Capital Management LP now owns 405,241 shares of the company’s stock valued at $8,591,000 after purchasing an additional 289,408 shares during the period. 74.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PINC has been the subject of a number of recent analyst reports. Canaccord Genuity Group boosted their target price on shares of Premier from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 20th. Robert W. Baird boosted their target price on shares of Premier from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Piper Sandler boosted their target price on shares of Premier from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. UBS Group boosted their target price on shares of Premier from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, Bank of America boosted their target price on shares of Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $25.29.

Premier Price Performance

PINC stock opened at $26.81 on Friday. The business has a 50-day moving average price of $23.49 and a 200 day moving average price of $21.65. The company has a market capitalization of $2.21 billion, a P/E ratio of 121.87 and a beta of 0.61. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $28.79.

Premier Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, August 29th. Premier’s payout ratio is presently 381.82%.

Insider Activity at Premier

In related news, General Counsel David L. Klatsky sold 1,319 shares of Premier stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $25.85, for a total value of $34,096.15. Following the completion of the sale, the general counsel directly owned 94,331 shares in the company, valued at $2,438,456.35. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andy Brailo sold 6,521 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $25.79, for a total transaction of $168,176.59. Following the completion of the transaction, the insider owned 99,447 shares of the company’s stock, valued at $2,564,738.13. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock worth $317,230 over the last three months. 0.96% of the stock is owned by corporate insiders.

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.