Cerity Partners LLC Has $1.55 Million Position in Premier, Inc. (NASDAQ:PINC)

Cerity Partners LLC lowered its position in Premier, Inc. (NASDAQ:PINC) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,302 shares of the company’s stock after selling 5,313 shares during the period. Cerity Partners LLC owned about 0.09% of Premier worth $1,548,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of Premier by 4.2% in the 4th quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock valued at $55,093,000 after buying an additional 104,452 shares during the last quarter. Alps Advisors Inc. raised its position in Premier by 7.8% during the first quarter. Alps Advisors Inc. now owns 921,163 shares of the company’s stock worth $17,760,000 after acquiring an additional 66,391 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Premier by 3.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock valued at $16,162,000 after acquiring an additional 21,861 shares during the period. Northern Trust Corp increased its position in Premier by 20.5% during the fourth quarter. Northern Trust Corp now owns 741,739 shares of the company’s stock worth $15,725,000 after buying an additional 126,217 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Premier by 23.6% during the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company’s stock valued at $15,255,000 after purchasing an additional 137,306 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Stock Performance

PINC opened at $20.93 on Tuesday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 36.72 and a beta of 0.56. The company has a fifty day moving average of $22.33 and a 200 day moving average of $20.71. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, May 30th. Premier’s dividend payout ratio (DPR) is presently 147.37%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Premier from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 21st. Canaccord Genuity Group upped their target price on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Finally, Robert W. Baird boosted their price target on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.