Illinois Municipal Retirement Fund Purchases 2,072 Shares of Premier, Inc. (NASDAQ:PINC)

Illinois Municipal Retirement Fund increased its stake in Premier, Inc. (NASDAQ:PINC) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,214 shares of the company’s stock after purchasing an additional 2,072 shares during the period. Illinois Municipal Retirement Fund’s holdings in Premier were worth $1,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Premier by 28.0% in the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock worth $43,000 after purchasing an additional 446 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Premier by 2.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock worth $408,000 after purchasing an additional 478 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Premier by 6.7% in the 3rd quarter. QRG Capital Management Inc. now owns 18,657 shares of the company’s stock worth $373,000 after purchasing an additional 1,171 shares in the last quarter. KBC Group NV boosted its stake in Premier by 40.9% in the 3rd quarter. KBC Group NV now owns 4,047 shares of the company’s stock worth $81,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after purchasing an additional 1,235 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $22.19, for a total value of $25,207.84. Following the sale, the director now owns 23,846 shares of the company’s stock, valued at approximately $529,142.74. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen M. Boudreau sold 2,500 shares of Premier stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the completion of the sale, the director now directly owns 20,668 shares in the company, valued at $442,708.56. This represents a 10.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,010 shares of company stock valued at $916,911 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PINC has been the subject of a number of recent analyst reports. Piper Sandler lowered their target price on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Barclays raised their price target on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Robert W. Baird reduced their price target on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group reduced their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.17.

Premier Price Performance

NASDAQ:PINC opened at $18.18 on Friday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -181.78 and a beta of 0.43. The company has a 50 day moving average price of $20.55 and a 200-day moving average price of $20.72. Premier, Inc. has a 1-year low of $17.69 and a 1-year high of $23.56.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, February 28th. Premier’s dividend payout ratio (DPR) is -840.00%.

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.