Lazard Asset Management LLC Grows Stock Position in Premier, Inc. (NASDAQ:PINC)

Lazard Asset Management LLC grew its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,365 shares of the company’s stock after buying an additional 31,982 shares during the quarter. Lazard Asset Management LLC owned 0.11% of Premier worth $2,297,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Ethic Inc. bought a new position in Premier during the fourth quarter worth $249,000. Clark Capital Management Group Inc. acquired a new stake in Premier in the fourth quarter worth $4,017,000. Deutsche Bank AG increased its position in Premier by 238.3% in the fourth quarter. Deutsche Bank AG now owns 199,280 shares of the company’s stock worth $4,225,000 after buying an additional 140,367 shares during the period. Cetera Investment Advisers increased its position in Premier by 25.9% in the fourth quarter. Cetera Investment Advisers now owns 16,906 shares of the company’s stock worth $358,000 after buying an additional 3,476 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Premier by 3.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 762,337 shares of the company’s stock worth $16,162,000 after buying an additional 21,861 shares during the period. 74.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Canaccord Genuity Group increased their target price on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Robert W. Baird raised their price target on Premier from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Piper Sandler lowered their price target on Premier from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.20.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 10,982 shares of Premier stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the transaction, the general counsel now directly owns 76,093 shares of the company’s stock, valued at $1,730,354.82. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 22,119 shares of company stock valued at $464,974 over the last three months. Company insiders own 0.96% of the company’s stock.

Premier Stock Up 1.4%

NASDAQ:PINC opened at $23.12 on Friday. The business’s 50-day moving average price is $19.99 and its 200 day moving average price is $20.65. The firm has a market cap of $1.90 billion, a P/E ratio of -231.18 and a beta of 0.54. Premier, Inc. has a 52-week low of $17.23 and a 52-week high of $23.56.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, May 30th. Premier’s payout ratio is currently 147.37%.

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.