M&T Bank Corp increased its stake in shares of Premier, Inc. (NASDAQ:PINC – Get Rating) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,739 shares of the company’s stock after purchasing an additional 1,371 shares during the quarter. M&T Bank Corp’s holdings in Premier were worth $370,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Premier by 2.2% during the third quarter. Vanguard Group Inc. now owns 11,539,926 shares of the company’s stock worth $391,664,000 after purchasing an additional 248,521 shares during the period. BlackRock Inc. boosted its position in shares of Premier by 2.3% during the 3rd quarter. BlackRock Inc. now owns 5,885,982 shares of the company’s stock worth $199,771,000 after purchasing an additional 133,925 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Premier by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,423,362 shares of the company’s stock worth $119,748,000 after purchasing an additional 57,745 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Premier by 5.7% during the 4th quarter. First Trust Advisors LP now owns 2,728,265 shares of the company’s stock worth $95,434,000 after purchasing an additional 147,478 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Premier by 3.0% during the 1st quarter. State Street Corp now owns 2,172,151 shares of the company’s stock worth $77,307,000 after purchasing an additional 63,399 shares in the last quarter. 66.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PINC has been the topic of several research analyst reports. SVB Leerink decreased their target price on shares of Premier from $46.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 8th. Raymond James lowered shares of Premier from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 2nd. Robert W. Baird downgraded Premier from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $30.00 in a research note on Wednesday, May 3rd. StockNews.com started coverage on Premier in a research note on Thursday, May 18th. They set a “buy” rating for the company. Finally, Benchmark cut their price target on Premier from $46.00 to $37.00 in a research note on Wednesday, May 3rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.22.
Premier Trading Up 3.0 %
Premier Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.25%. The ex-dividend date is Wednesday, May 31st. Premier’s payout ratio is 54.55%.
Premier Company Profile
Premier, Inc engages in the provision of healthcare improvement solutions. It operates through the Supply Chain Services and Performance Services segments. The Supply Chain Services segment includes healthcare group purchasing organization (GPO) programs in the United States, supply chain co-management, and direct sourcing activities.
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