Ameriprise Financial Inc. Has $5.65 Million Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Ameriprise Financial Inc. trimmed its position in Premier, Inc. (NASDAQ:PINC) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,465 shares of the company’s stock after selling 36,103 shares during the period. Ameriprise Financial Inc. owned approximately 0.28% of Premier worth $5,649,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its holdings 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 buying an additional 446 shares during the period. SRS Capital Advisors Inc. raised its holdings 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 buying an additional 786 shares during the period. Russell Investments Group Ltd. raised its holdings in Premier by 40.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company’s stock worth $93,000 after buying an additional 1,257 shares during the period. Smartleaf Asset Management LLC grew 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 acquiring an additional 1,427 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Premier by 38.1% during the 4th quarter. KBC Group NV now owns 5,589 shares of the company’s stock worth $118,000 after acquiring an additional 1,542 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Premier

In related news, General Counsel David L. Klatsky sold 10,982 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $22.74, for a total value of $249,730.68. Following the completion of the transaction, the general counsel now directly owns 76,093 shares of the company’s stock, valued at approximately $1,730,354.82. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 22,119 shares of company stock valued at $464,974. 0.96% of the stock is owned by corporate insiders.

Premier Trading Down 0.6%

NASDAQ:PINC opened at $23.06 on Friday. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56. The firm has a fifty day simple moving average of $20.48 and a 200 day simple moving average of $20.73. The stock has a market capitalization of $1.90 billion, a PE ratio of -230.58 and a beta of 0.54.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.64%. Premier’s dividend payout ratio is presently 147.37%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PINC. Robert W. Baird raised their price target on shares of Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Piper Sandler raised their price target on shares of Premier from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Canaccord Genuity Group raised their price target on shares of Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier has a consensus rating of “Hold” and a consensus target price of $22.20.

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.