Summit Trail Advisors LLC Takes $668,000 Position in Premier, Inc. (NASDAQ:PINC)

Summit Trail Advisors LLC acquired a new stake in shares of Premier, Inc. (NASDAQ:PINC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 31,509 shares of the company’s stock, valued at approximately $668,000.

Several other large investors also recently bought and sold shares of the business. Brooklyn Investment Group boosted its holdings in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after acquiring an additional 1,235 shares during the last quarter. GAMMA Investing LLC lifted its position in Premier by 137.6% during the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company’s stock valued at $27,000 after purchasing an additional 780 shares during the period. Keystone Financial Group Inc. purchased a new stake in Premier in the fourth quarter worth approximately $37,000. Wilmington Savings Fund Society FSB bought a new stake in Premier in the 3rd quarter worth approximately $39,000. Finally, Quarry LP raised its stake in Premier by 576.7% during the 3rd quarter. Quarry LP now owns 2,179 shares of the company’s stock valued at $44,000 after buying an additional 1,857 shares during the last quarter. 74.41% of the stock is currently owned by institutional investors.

Premier Stock Performance

Shares of Premier stock opened at $18.52 on Wednesday. The company has a fifty day moving average of $21.44 and a 200 day moving average of $20.91. The company has a market capitalization of $1.78 billion, a P/E ratio of -185.18 and a beta of 0.43. Premier, Inc. has a fifty-two week low of $17.95 and a fifty-two week high of $23.56.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, February 28th. Premier’s dividend payout ratio is currently -839.92%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PINC. Barclays raised their price target on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Piper Sandler cut their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group lowered their price objective on shares of Premier from $21.00 to $19.00 and set a “hold” rating on the stock 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. Finally, Robert W. Baird reduced their target price on shares of Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Ten research 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 price target of $20.50.

Insider Activity at Premier

In other news, CEO Michael J. Alkire sold 18,374 shares of Premier stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $21.80, for a total value of $400,553.20. Following the completion of the transaction, the chief executive officer now owns 502,354 shares in the company, valued at approximately $10,951,317.20. The trade was a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Bigalke sold 1,136 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,846 shares in the company, valued at approximately $529,142.74. This represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,010 shares of company stock valued at $916,911. 0.96% of the stock is owned by company insiders.

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.