JPMorgan Chase & Co. Has $10.38 Million Stake in Premier, Inc. (NASDAQ:PINC)

JPMorgan Chase & Co. increased its position in shares of Premier, Inc. (NASDAQ:PINC) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 489,428 shares of the company’s stock after buying an additional 11,599 shares during the period. JPMorgan Chase & Co. owned 0.51% of Premier worth $10,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in shares of Premier by 28.0% in the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after buying an additional 446 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Premier by 2.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock worth $408,000 after purchasing an additional 478 shares during the period. SRS Capital Advisors Inc. increased its holdings in Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the last quarter. Brooklyn Investment Group lifted its stake in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after buying an additional 1,235 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Premier by 297.9% during the fourth 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. 74.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PINC. Canaccord Genuity Group lowered their target price on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Robert W. Baird lowered their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.17.

Premier Trading Up 1.7 %

NASDAQ:PINC opened at $19.53 on Tuesday. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56. The stock has a market cap of $1.78 billion, a P/E ratio of -195.28 and a beta of 0.51. The stock has a 50 day simple moving average of $18.64 and a 200 day simple moving average of $20.42.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Friday, February 28th. Premier’s dividend payout ratio is currently -840.00%.

Insider Activity at Premier

In other Premier news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction dated Wednesday, April 2nd. The stock was 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. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is owned by 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.