Paloma Partners Management Co Has $267,000 Stock Position in Premier, Inc. (NASDAQ:PINC)

Paloma Partners Management Co lessened its stake in shares of Premier, Inc. (NASDAQ:PINC) by 4.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,326 shares of the company’s stock after selling 616 shares during the quarter. Paloma Partners Management Co’s holdings in Premier were worth $267,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PINC. Pacer Advisors Inc. grew its position in Premier by 384.3% during the 2nd quarter. Pacer Advisors Inc. now owns 6,311,089 shares of the company’s stock worth $117,828,000 after acquiring an additional 5,007,851 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Premier by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,951,043 shares of the company’s stock valued at $111,105,000 after purchasing an additional 773,207 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Premier by 60.4% during the second quarter. American Century Companies Inc. now owns 2,051,578 shares of the company’s stock worth $38,303,000 after purchasing an additional 772,392 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Premier by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,741,784 shares of the company’s stock worth $34,836,000 after purchasing an additional 97,458 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Premier by 6.6% in the second quarter. AQR Capital Management LLC now owns 1,590,926 shares of the company’s stock valued at $29,241,000 after buying an additional 98,544 shares during the period. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Performance

Premier stock opened at $21.97 on Friday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 9.98 and a beta of 0.42. Premier, Inc. has a 52-week low of $17.95 and a 52-week high of $23.56. The stock’s 50 day moving average price is $21.09 and its two-hundred day moving average price is $20.04.

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 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 business had revenue of $248.14 million for the quarter, compared to analyst estimates of $232.85 million. During the same period in the prior year, the firm earned $0.50 earnings per share. Premier’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Sunday, December 1st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, November 29th. Premier’s payout ratio is 61.77%.

Insider Buying and Selling

In other news, CEO Michael J. Alkire sold 17,415 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $23.16, for a total transaction of $403,331.40. Following the completion of the sale, the chief executive officer now owns 520,728 shares in the company, valued at $12,060,060.48. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andy Brailo sold 17,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $20.41, for a total value of $346,970.00. Following the completion of the transaction, the insider now owns 87,410 shares in the company, valued at approximately $1,784,038.10. This represents a 16.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,315 shares of company stock valued at $2,105,751. 0.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

PINC has been the topic of a number of research reports. StockNews.com lowered shares of Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. 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 research note on Wednesday, November 6th. Canaccord Genuity Group raised their target price on Premier from $19.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Benchmark lowered Premier from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. lowered their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, Premier has an average rating of “Hold” and a consensus price target of $21.36.

About Premier

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.