Truist Financial Corp Trims Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Truist Financial Corp trimmed its holdings in Premier, Inc. (NASDAQ:PINC) by 36.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,829 shares of the company’s stock after selling 5,690 shares during the quarter. Truist Financial Corp’s holdings in Premier were worth $272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janiczek Wealth Management LLC boosted its position in Premier by 322.7% during the 2nd quarter. Janiczek Wealth Management LLC now owns 1,264 shares of the company’s stock valued at $35,000 after acquiring an additional 965 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Premier by 2,204.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,129 shares of the company’s stock worth $37,000 after purchasing an additional 1,080 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Premier by 48.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,362 shares of the company’s stock worth $49,000 after purchasing an additional 445 shares in the last quarter. Amundi boosted its position in shares of Premier by 397.6% in the 4th quarter. Amundi now owns 1,443 shares of the company’s stock worth $50,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Premier in the 2nd quarter worth $62,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

Premier Price Performance

Shares of Premier stock opened at $19.34 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.30 and a debt-to-equity ratio of 0.03. Premier, Inc. has a twelve month low of $18.89 and a twelve month high of $35.57. The business has a 50-day moving average price of $20.76 and a 200 day moving average price of $24.48. The firm has a market cap of $2.30 billion, a PE ratio of 13.07, a P/E/G ratio of 4.26 and a beta of 0.34.

Premier (NASDAQ:PINC) last announced its quarterly earnings results on Tuesday, August 22nd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. Premier had a return on equity of 12.48% and a net margin of 13.20%. The firm had revenue of $340.40 million during the quarter, compared to analyst estimates of $355.59 million. During the same quarter in the previous year, the business earned $0.54 EPS. Premier’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts predict that Premier, Inc. will post 2.21 earnings per share for the current fiscal year.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.84 annualized dividend and a yield of 4.34%. Premier’s dividend payout ratio (DPR) is currently 56.76%.

Analyst Ratings Changes

A number of analysts have commented on PINC shares. Benchmark lowered their price target on Premier from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Credit Suisse Group lowered their price target on Premier from $33.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, August 24th. Piper Sandler cut Premier from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $44.00 to $25.00 in a research report on Wednesday, August 23rd. Canaccord Genuity Group lowered their price target on Premier from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, August 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Premier from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.50.

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.