QRG Capital Management Inc. Has $373,000 Stock Position in Premier, Inc. (NASDAQ:PINC)

QRG Capital Management Inc. raised its position in Premier, Inc. (NASDAQ:PINC) by 6.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 18,657 shares of the company’s stock after acquiring an additional 1,171 shares during the period. QRG Capital Management Inc.’s holdings in Premier were worth $373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of PINC. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Premier by 26.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 327,551 shares of the company’s stock worth $6,551,000 after purchasing an additional 68,112 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in shares of Premier in the third quarter valued at $287,000. Integrated Advisors Network LLC acquired a new position in shares of Premier during the third quarter valued at about $237,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Premier by 64.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,067 shares of the company’s stock worth $501,000 after acquiring an additional 9,796 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Premier in the 3rd quarter worth about $4,466,000. Institutional investors own 74.41% of the company’s stock.

Insider Transactions at Premier

In other Premier news, CEO Michael J. Alkire sold 17,900 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $20.00, for a total transaction of $358,000.00. Following the sale, the chief executive officer now directly owns 540,243 shares of the company’s stock, valued at $10,804,860. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Premier news, CEO Michael J. Alkire sold 17,900 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $20.00, for a total transaction of $358,000.00. Following the sale, the chief executive officer now owns 540,243 shares in the company, valued at $10,804,860. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Alkire sold 1,264 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $20.01, for a total value of $25,292.64. Following the completion of the transaction, the chief executive officer now directly owns 558,143 shares of the company’s stock, valued at $11,168,441.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,441 shares of company stock worth $2,738,548. 0.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PINC. Canaccord Genuity Group lifted their price target on Premier from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Barclays upped their target price 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. Finally, Robert W. Baird raised their price target on shares of Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.36.

Premier Stock Performance

PINC opened at $22.88 on Monday. Premier, Inc. has a fifty-two week low of $17.95 and a fifty-two week high of $23.43. The firm has a 50-day moving average of $20.13 and a 200 day moving average of $19.72. The firm has a market cap of $2.29 billion, a P/E ratio of 16.82, a PEG ratio of 10.78 and a beta of 0.40.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. Premier had a net margin of 11.41% and a return on equity of 10.74%. The company had revenue of $248.14 million during the quarter, compared to analyst estimates of $232.85 million. During the same quarter last year, the business posted $0.50 EPS. Premier’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities research analysts predict that Premier, Inc. will post 1.04 earnings per share for the current fiscal year.

Premier Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.67%. Premier’s payout ratio is 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.