Baird Financial Group Inc. Sells 1,247 Shares of Premier, Inc. (NASDAQ:PINC)

Baird Financial Group Inc. trimmed its position in Premier, Inc. (NASDAQ:PINC) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,854 shares of the company’s stock after selling 1,247 shares during the period. Baird Financial Group Inc. owned 0.06% of Premier worth $1,184,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PINC. Brandes Investment Partners LP boosted its holdings in Premier by 123.1% in the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after purchasing an additional 464,710 shares during the period. Franklin Resources Inc. bought a new position in Premier in the 4th quarter valued at $5,275,000. Assenagon Asset Management S.A. boosted its holdings in Premier by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after purchasing an additional 245,239 shares during the period. Jane Street Group LLC boosted its holdings in Premier by 126.9% in 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 during the period. Finally, Invesco Ltd. boosted its holdings in Premier by 23.6% in the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company’s stock valued at $15,255,000 after purchasing an additional 137,306 shares during the period. 74.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on PINC shares. Canaccord Genuity Group raised 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. Robert W. Baird lowered their price objective on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.60.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the transaction, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. This trade represents a 9.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 22,119 shares of company stock worth $464,974 in the last 90 days. 0.96% of the stock is owned by company insiders.

Premier Stock Performance

Premier stock opened at $22.86 on Wednesday. The stock has a market cap of $2.09 billion, a P/E ratio of -228.58 and a beta of 0.54. The firm’s fifty day moving average price is $19.72 and its 200-day moving average price is $20.59. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Friday, May 30th. Premier’s payout ratio is presently 147.37%.

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.