Principal Financial Group Inc. Reduces Holdings in Premier, Inc. (PINC)
Principal Financial Group Inc. cut its position in Premier, Inc. (NASDAQ:PINC) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,089 shares of the company’s stock after selling 1,574 shares during the quarter. Principal Financial Group Inc.’s holdings in Premier were worth $329,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PINC. Trillium Asset Management LLC bought a new position in Premier in the third quarter worth approximately $1,907,000. Stevens Capital Management LP boosted its holdings in Premier by 25.5% in the third quarter. Stevens Capital Management LP now owns 9,601 shares of the company’s stock worth $313,000 after acquiring an additional 1,951 shares in the last quarter. Parametrica Management Ltd bought a new position in Premier in the third quarter worth approximately $480,000. First Quadrant L P CA boosted its holdings in Premier by 50,808.6% in the third quarter. First Quadrant L P CA now owns 194,471 shares of the company’s stock worth $6,334,000 after acquiring an additional 194,089 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Premier by 130.2% in the third quarter. First Trust Advisors LP now owns 658,789 shares of the company’s stock worth $21,457,000 after acquiring an additional 372,650 shares in the last quarter. Hedge funds and other institutional investors own 38.31% of the company’s stock.
Several research analysts have issued reports on the company. Oppenheimer reiterated a “buy” rating and issued a $40.00 price target on shares of Premier in a report on Thursday, December 7th. Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. SunTrust Banks cut their price target on Premier to $36.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Robert W. Baird restated a “buy” rating and issued a $35.00 target price on shares of Premier in a report on Friday, November 10th. Finally, KeyCorp restated a “buy” rating and issued a $42.00 target price on shares of Premier in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $38.38.
In related news, COO Michael J. Alkire sold 25,000 shares of Premier stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $29.90, for a total transaction of $747,500.00. Following the sale, the chief operating officer now directly owns 180,550 shares in the company, valued at $5,398,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.52% of the company’s stock.
Shares of Premier, Inc. (PINC) opened at $29.61 on Friday. The company has a market capitalization of $4,132.13, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.32 and a beta of 0.40. Premier, Inc. has a fifty-two week low of $27.16 and a fifty-two week high of $36.50.
Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.05). The business had revenue of $390.56 million for the quarter, compared to the consensus estimate of $389.56 million. Premier had a negative return on equity of 18.31% and a net margin of 17.99%. The business’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. equities analysts expect that Premier, Inc. will post 1.87 EPS for the current fiscal year.
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Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.
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