Mutual of America Capital Management LLC Lowers Position in Premier, Inc. (NASDAQ:PINC)

Mutual of America Capital Management LLC cut its position in Premier, Inc. (NASDAQ:PINC) by 8.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,766 shares of the company’s stock after selling 1,463 shares during the period. Mutual of America Capital Management LLC’s holdings in Premier were worth $315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings 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 purchasing an additional 5,007,851 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Premier by 14.9% in the 2nd 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 during the period. American Century Companies Inc. boosted its position in shares of Premier by 60.4% in the 2nd quarter. American Century Companies Inc. now owns 2,051,578 shares of the company’s stock valued at $38,303,000 after purchasing an additional 772,392 shares during the period. AQR Capital Management LLC boosted its position in shares of Premier by 6.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,590,926 shares of the company’s stock valued at $29,241,000 after purchasing an additional 98,544 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Premier by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 708,798 shares of the company’s stock valued at $13,233,000 after purchasing an additional 10,656 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Premier Price Performance

NASDAQ:PINC opened at $22.95 on Friday. The business’s 50-day moving average is $20.76 and its two-hundred day moving average is $19.93. Premier, Inc. has a 12 month low of $17.95 and a 12 month high of $23.56. The firm has a market capitalization of $2.21 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 10.42 and a beta of 0.40.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. Premier had a return on equity of 10.74% and a net margin of 11.41%. 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 previous year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. Equities analysts anticipate that Premier, Inc. will post 1.09 EPS for the current year.

Premier Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.21 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.66%. Premier’s dividend payout ratio (DPR) is 61.77%.

Analyst Ratings Changes

PINC has been the subject of several analyst reports. Benchmark downgraded Premier from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Robert W. Baird raised their price objective on Premier from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group increased their target price on Premier from $19.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. StockNews.com cut Premier from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Barclays raised their price objective on Premier from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, Premier currently has a consensus rating of “Hold” and a consensus target price of $21.36.

Insider Buying and Selling

In other Premier news, insider Andy Brailo sold 4,390 shares of Premier stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $20.51, for a total value of $90,038.90. Following the completion of the transaction, the insider now directly owns 104,410 shares in the company, valued at $2,141,449.10. The trade was a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $403,331.40. Following the transaction, the chief executive officer now owns 520,728 shares of the company’s stock, valued at approximately $12,060,060.48. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,537 shares of company stock worth $2,915,552. Corporate insiders own 0.96% of the company’s stock.

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.