Wealth Enhancement Advisory Services LLC Sells 11,516 Shares of Premier, Inc. (NASDAQ:PINC)

Wealth Enhancement Advisory Services LLC lowered its stake in Premier, Inc. (NASDAQ:PINC) by 48.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,094 shares of the company’s stock after selling 11,516 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Premier were worth $233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position 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 purchasing an additional 1,427 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Premier during the 4th quarter worth about $52,000. New Age Alpha Advisors LLC acquired a new position in shares of Premier during the 4th quarter worth about $82,000. Russell Investments Group Ltd. lifted its position in shares of 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 purchasing an additional 1,257 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Premier during the 4th quarter worth about $96,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Performance

Shares of PINC stock opened at $21.59 on Thursday. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 37.88 and a beta of 0.56. The firm has a fifty day moving average of $22.45 and a 200-day moving average of $20.74.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.89%. The ex-dividend date was Friday, May 30th. Premier’s dividend payout ratio is 147.37%.

Insider Transactions at Premier

In other news, Director Helen M. Boudreau sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $22.88, for a total transaction of $45,760.00. Following the completion of the sale, the director owned 18,668 shares of the company’s stock, valued at approximately $427,123.84. This trade represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel David L. Klatsky sold 10,982 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the sale, the general counsel directly owned 76,093 shares of the company’s stock, valued at approximately $1,730,354.82. The trade was a 12.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,119 shares of company stock valued at $321,676. 0.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PINC shares. Canaccord Genuity Group upped their price target on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Robert W. Baird lifted their target price on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Finally, Piper Sandler lifted their target price on Premier from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.20.

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.