Quantinno Capital Management LP Boosts Holdings in Premier, Inc. (NASDAQ:PINC)

Quantinno Capital Management LP raised its holdings in Premier, Inc. (NASDAQ:PINC) by 249.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 405,241 shares of the company’s stock after acquiring an additional 289,408 shares during the quarter. Quantinno Capital Management LP owned 0.42% of Premier worth $8,591,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group raised its stake in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares during the last quarter. Keystone Financial Group Inc. acquired a new position in shares of Premier during the 4th quarter worth $37,000. Smartleaf Asset Management LLC raised its stake in shares of Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after buying an additional 1,427 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock worth $43,000 after buying an additional 446 shares during the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Premier Trading Up 1.2%

Premier stock opened at $22.79 on Friday. The stock has a market cap of $2.08 billion, a PE ratio of -227.88 and a beta of 0.54. The stock has a 50-day moving average price of $19.89 and a 200 day moving average price of $20.62. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56.

Premier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Friday, May 30th. Premier’s dividend payout ratio is presently 147.37%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PINC shares. Canaccord Genuity Group lifted their price target on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Piper Sandler cut their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird lifted their price target on 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, Premier has a consensus rating of “Hold” and an average target price of $21.20.

Insider Buying and Selling at Premier

In other Premier news, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the sale, the general counsel now owns 76,093 shares in the company, valued at $1,730,354.82. The trade was a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 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 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.