Premier, Inc. $PINC Shares Purchased by Invesco Ltd.

Invesco Ltd. increased its stake in shares of Premier, Inc. (NASDAQ:PINC) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 760,939 shares of the company’s stock after acquiring an additional 41,342 shares during the quarter. Invesco Ltd. owned about 0.83% of Premier worth $14,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PINC. Russell Investments Group Ltd. raised its stake 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 acquiring an additional 1,257 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Premier during the 4th quarter worth $286,000. Mariner LLC acquired a new stake in Premier during the 4th quarter worth $282,000. Marshall Wace LLP boosted its stake in Premier by 134.2% during the 4th quarter. Marshall Wace LLP now owns 64,923 shares of the company’s stock worth $1,376,000 after purchasing an additional 37,196 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Premier by 54.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 212,172 shares of the company’s stock worth $4,496,000 after purchasing an additional 74,920 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Performance

Premier stock opened at $25.14 on Friday. Premier, Inc. has a one year low of $17.23 and a one year high of $27.26. The business has a fifty day moving average of $22.30 and a two-hundred day moving average of $20.90. The company has a market cap of $2.07 billion, a P/E ratio of 114.28 and a beta of 0.56.

Premier Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Premier’s dividend payout ratio (DPR) is 381.82%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PINC. Piper Sandler increased 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, May 21st. Robert W. Baird increased their price target on shares of Premier from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday. Leerink Partners increased their price target on shares of Premier from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Tuesday. Canaccord Genuity Group increased their price target on shares of Premier from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Bank of America boosted their price objective on shares of Premier from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Tuesday. Eight research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $24.00.

Insiders Place Their Bets

In other Premier news, Director John T. Bigalke sold 1,137 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the sale, the director owned 28,673 shares of the company’s stock, valued at approximately $660,339.19. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Helen M. Boudreau sold 2,000 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the sale, the director directly owned 18,668 shares in the company, valued at $427,123.84. This trade represents a 9.68% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Premier Company 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.