Lazard Asset Management LLC Has $2.30 Million Stock Position in Premier, Inc. (NASDAQ:PINC)

Lazard Asset Management LLC lifted its stake in Premier, Inc. (NASDAQ:PINC) by 41.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,365 shares of the company’s stock after purchasing an additional 31,982 shares during the quarter. Lazard Asset Management LLC’s holdings in Premier were worth $2,297,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group boosted its position in shares of Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after purchasing an additional 1,235 shares during the period. SRS Capital Advisors Inc. boosted its position in 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 acquiring an additional 786 shares during the period. Keystone Financial Group Inc. acquired a new stake in Premier during the 4th quarter worth about $37,000. Smartleaf Asset Management LLC boosted its position in 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 acquiring an additional 1,427 shares during the period. Finally, Van ECK Associates Corp boosted its position in 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 acquiring an additional 446 shares during the period. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Price Performance

PINC opened at $23.12 on Friday. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The business has a 50-day moving average of $19.99 and a 200-day moving average of $20.65. The company has a market capitalization of $1.90 billion, a PE ratio of -231.18 and a beta of 0.54.

Premier Announces Dividend

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

Insider Transactions at Premier

In other news, General Counsel David L. Klatsky sold 10,982 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the sale, the general counsel now directly owns 76,093 shares of the company’s stock, valued at $1,730,354.82. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 22,119 shares of company stock valued at $464,974 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PINC. Robert W. Baird raised their price objective on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler decreased their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group raised their price objective on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.20.

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.