Victory Capital Management Inc. Sells 6,649 Shares of Premier, Inc. (NASDAQ:PINC)

Victory Capital Management Inc. lowered its position in shares of Premier, Inc. (NASDAQ:PINC) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 702,149 shares of the company’s stock after selling 6,649 shares during the period. Victory Capital Management Inc.’s holdings in Premier were worth $14,043,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Premier by 384.3% during the second quarter. Pacer Advisors Inc. now owns 6,311,089 shares of the company’s stock worth $117,828,000 after purchasing an additional 5,007,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Premier by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,951,043 shares of the company’s stock worth $111,105,000 after acquiring an additional 773,207 shares in the last quarter. American Century Companies Inc. grew its stake in Premier by 60.4% in the second quarter. American Century Companies Inc. now owns 2,051,578 shares of the company’s stock valued at $38,303,000 after acquiring an additional 772,392 shares during the period. Invenomic Capital Management LP increased its holdings in shares of Premier by 37.7% in the first quarter. Invenomic Capital Management LP now owns 1,027,437 shares of the company’s stock worth $22,706,000 after acquiring an additional 281,131 shares in the last quarter. Finally, Natixis increased its holdings in shares of Premier by 162.3% in the first quarter. Natixis now owns 452,000 shares of the company’s stock worth $9,989,000 after acquiring an additional 279,700 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.

Insider Activity

In other news, General Counsel David L. Klatsky sold 1,319 shares of Premier stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $19.96, for a total value of $26,327.24. Following the completion of the transaction, the general counsel now owns 102,467 shares of the company’s stock, valued at $2,045,241.32. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Leigh Anderson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the sale, the chief operating officer now directly owns 131,707 shares in the company, valued at approximately $2,584,091.34. The trade was a 13.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,856 shares of company stock valued at $2,941,879. 0.96% of the stock is owned by insiders.

Premier Trading Down 0.4 %

Shares of PINC stock opened at $22.30 on Wednesday. The firm’s fifty day moving average price is $20.46 and its two-hundred day moving average price is $19.80. Premier, Inc. has a 1 year low of $17.95 and a 1 year high of $23.43. The firm has a market capitalization of $2.14 billion, a P/E ratio of 16.40, a PEG ratio of 10.11 and a beta of 0.40.

Premier (NASDAQ:PINC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. Premier had a return on equity of 10.74% and a net margin of 11.41%. The company had revenue of $248.14 million during the quarter, compared to analysts’ expectations of $232.85 million. During the same quarter last year, the company earned $0.50 EPS. Premier’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Premier, Inc. will post 1.09 EPS for the current fiscal year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, November 29th. Premier’s dividend payout ratio is currently 61.77%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Benchmark lowered Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Canaccord Genuity Group upped their price target on shares of Premier from $19.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Barclays boosted their price objective on shares of Premier from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reduced 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 Monday, September 9th. Finally, StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Premier currently has an average rating of “Hold” and a consensus target price of $21.36.

Premier 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.