Victory Capital Management Inc. Has $14.04 Million Position in Premier, Inc. (NASDAQ:PINC)

Victory Capital Management Inc. lessened its stake in shares of Premier, Inc. (NASDAQ:PINC) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 702,149 shares of the company’s stock after selling 6,649 shares during the period. Victory Capital Management Inc. owned 0.70% of Premier worth $14,043,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Premier during the 1st quarter worth $27,000. GAMMA Investing LLC increased its stake in shares of Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock worth $27,000 after purchasing an additional 780 shares during the period. Versant Capital Management Inc boosted its stake in Premier by 265.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,140 shares of the company’s stock valued at $40,000 after purchasing an additional 1,554 shares during the period. Abich Financial Wealth Management LLC grew its holdings in Premier by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,951 shares of the company’s stock valued at $43,000 after buying an additional 650 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Premier in the 2nd quarter worth approximately $47,000. Institutional investors own 74.41% of the company’s stock.

Wall Street Analyst Weigh In

PINC has been the topic of several research analyst reports. Barclays raised their price objective on shares of Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their price objective on shares of Premier from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. cut their price objective on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their price target on Premier from $19.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.36.

Insider Transactions at Premier

In other news, General Counsel David L. Klatsky sold 1,319 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $19.96, for a total value of $26,327.24. Following the transaction, the general counsel now directly owns 102,467 shares of the company’s stock, valued at $2,045,241.32. The trade was a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Alkire sold 17,415 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 520,728 shares of the company’s stock, valued at $12,060,060.48. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 142,856 shares of company stock valued at $2,941,879. 0.96% of the stock is owned by insiders.

Premier Stock Down 0.4 %

NASDAQ:PINC opened at $22.30 on Wednesday. The firm has a 50-day moving average price of $20.46 and a 200 day moving average price of $19.80. The firm has a market capitalization of $2.14 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 10.11 and a beta of 0.40. Premier, Inc. has a 12-month low of $17.95 and a 12-month high of $23.43.

Premier (NASDAQ:PINC) last issued its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $248.14 million during the quarter, compared to analysts’ expectations of $232.85 million. Premier had a return on equity of 10.74% and a net margin of 11.41%. Premier’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, research analysts expect that Premier, Inc. will post 1.09 EPS for the current year.

Premier Dividend Announcement

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

Premier Company 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.