Impact Partnership Wealth LLC Increases Stock Holdings in Premier, Inc. (NASDAQ:PINC)

Impact Partnership Wealth LLC increased its holdings in Premier, Inc. (NASDAQ:PINC) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,150 shares of the company’s stock after purchasing an additional 2,340 shares during the period. Impact Partnership Wealth LLC’s holdings in Premier were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PINC. Van ECK Associates Corp grew its position in shares of Premier by 22.4% in the fourth quarter. Van ECK Associates Corp now owns 3,289 shares of the company’s stock valued at $74,000 after purchasing an additional 601 shares during the period. Victory Capital Management Inc. grew its position in shares of Premier by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 531,327 shares of the company’s stock valued at $11,880,000 after purchasing an additional 12,363 shares during the period. Natixis Advisors L.P. grew its position in Premier by 10.8% during the fourth quarter. Natixis Advisors L.P. now owns 19,504 shares of the company’s stock valued at $436,000 after acquiring an additional 1,901 shares during the period. LSV Asset Management grew its position in Premier by 3,979.3% during the fourth quarter. LSV Asset Management now owns 118,300 shares of the company’s stock valued at $2,645,000 after acquiring an additional 115,400 shares during the period. Finally, National Bank of Canada FI grew its position in Premier by 690.6% during the fourth quarter. National Bank of Canada FI now owns 352,600 shares of the company’s stock valued at $8,015,000 after acquiring an additional 308,000 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Alkire sold 19,362 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $20.83, for a total value of $403,310.46. Following the transaction, the chief executive officer now owns 578,143 shares in the company, valued at $12,042,718.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Premier news, CEO Michael J. Alkire sold 19,362 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $20.83, for a total transaction of $403,310.46. Following the sale, the chief executive officer now owns 578,143 shares in the company, valued at $12,042,718.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David L. Klatsky sold 13,339 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $18.55, for a total value of $247,438.45. Following the sale, the general counsel now owns 92,001 shares in the company, valued at approximately $1,706,618.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,261 shares of company stock worth $2,964,830. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PINC has been the subject of a number of research reports. Robert W. Baird lowered their price target on Premier from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price target on Premier from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Benchmark downgraded Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Canaccord Genuity Group lowered their price target on Premier from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Premier has an average rating of “Hold” and an average price target of $22.19.

Premier Price Performance

Shares of NASDAQ PINC opened at $20.46 on Friday. Premier, Inc. has a 1-year low of $17.95 and a 1-year high of $23.56. The business has a 50-day moving average of $19.76 and a 200-day moving average of $20.11. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 9.79 and a beta of 0.40.

Premier (NASDAQ:PINC) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.44 by $0.25. Premier had a return on equity of 11.69% and a net margin of 8.88%. The business had revenue of $350.30 million for the quarter, compared to analysts’ expectations of $308.88 million. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. Research analysts expect that Premier, Inc. will post 1.02 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, August 30th. Premier’s dividend payout ratio (DPR) is 131.25%.

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.