Maryland State Retirement & Pension System Sells 3,031 Shares of Premier, Inc. (NASDAQ:PINC)

Maryland State Retirement & Pension System reduced its stake in shares of Premier, Inc. (NASDAQ:PINC) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,166 shares of the company’s stock after selling 3,031 shares during the period. Maryland State Retirement & Pension System’s holdings in Premier were worth $830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PINC. State Street Corp raised its stake in shares of Premier by 0.8% in the 3rd quarter. State Street Corp now owns 3,973,582 shares of the company’s stock valued at $79,472,000 after acquiring an additional 32,193 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Premier by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,813,408 shares of the company’s stock worth $38,444,000 after buying an additional 71,624 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock worth $17,857,000 after buying an additional 464,710 shares during the period. Empowered Funds LLC grew its stake in Premier by 15.9% in the 4th quarter. Empowered Funds LLC now owns 495,985 shares of the company’s stock valued at $10,515,000 after buying an additional 67,909 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Premier by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock worth $9,933,000 after acquiring an additional 245,239 shares during the period. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Trading Down 0.9 %

Shares of NASDAQ:PINC opened at $18.55 on Monday. The business’s 50 day moving average is $19.60 and its 200-day moving average is $20.51. The firm has a market capitalization of $1.69 billion, a PE ratio of -185.48 and a beta of 0.39. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Friday, February 28th. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PINC shares. Canaccord Genuity Group lowered their price target on Premier from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler dropped their price target on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Robert W. Baird cut their price target on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.17.

Insider Activity

In related news, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $21.42, for a total value of $53,550.00. Following the sale, the director now owns 20,668 shares of the company’s stock, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

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.