Kera Capital Partners Inc. bought a new stake in Premier, Inc. (NASDAQ:PINC – Free Report) in the 4th quarter, Holdings Channel reports. The institutional investor bought 11,685 shares of the company’s stock, valued at approximately $248,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in PINC. Nordea Investment Management AB raised its position in Premier by 21.0% during the fourth quarter. Nordea Investment Management AB now owns 256,492 shares of the company’s stock valued at $5,465,000 after purchasing an additional 44,480 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Premier by 27.7% in the 3rd quarter. Empowered Funds LLC now owns 428,076 shares of the company’s stock valued at $8,562,000 after purchasing an additional 92,766 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Premier by 6.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,590,926 shares of the company’s stock worth $29,241,000 after buying an additional 98,544 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Premier by 70.2% during the 3rd quarter. Jane Street Group LLC now owns 143,803 shares of the company’s stock worth $2,876,000 after buying an additional 59,295 shares during the last quarter. Finally, State Street Corp boosted its stake in Premier by 0.8% in the third quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after buying an additional 32,193 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.
Premier Stock Up 1.8 %
Shares of Premier stock opened at $22.43 on Friday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 16.49 and a beta of 0.43. Premier, Inc. has a twelve month low of $17.95 and a twelve month high of $23.56. The company’s fifty day moving average is $21.94 and its 200 day moving average is $20.65.
Premier Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 3.74%. Premier’s payout ratio is 61.77%.
Insider Transactions at Premier
In related news, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the completion of the sale, the chief operating officer now owns 111,707 shares of the company’s stock, valued at $2,444,149.16. This trade represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Alkire sold 17,415 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $23.16, for a total value of $403,331.40. Following the completion of the transaction, the chief executive officer now directly owns 520,728 shares in the company, valued at approximately $12,060,060.48. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,425 shares of company stock worth $1,320,242. Company insiders own 0.96% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on PINC shares. Robert W. Baird increased their target price on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price objective on shares of Premier from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. StockNews.com cut shares of Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays increased their price target on Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Premier currently has a consensus rating of “Hold” and an average target price of $21.36.
Read Our Latest Stock Report on PINC
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.
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