Principal Financial Group Inc. Trims Stock Position in Premier, Inc. (NASDAQ:PINC)


Share on StockTwits

Principal Financial Group Inc. cut its stake in Premier, Inc. (NASDAQ:PINC) by 28.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 74,954 shares of the company’s stock after selling 29,139 shares during the quarter. Principal Financial Group Inc.’s holdings in Premier were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sowell Financial Services LLC lifted its position in Premier by 42.8% in the fourth quarter. Sowell Financial Services LLC now owns 1,527 shares of the company’s stock valued at $54,000 after acquiring an additional 458 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Premier by 9.2% in the third quarter. Great West Life Assurance Co. Can now owns 5,700 shares of the company’s stock valued at $187,000 after buying an additional 480 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Premier by 1.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 40,350 shares of the company’s stock valued at $1,416,000 after buying an additional 588 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Premier by 5.7% in the fourth quarter. Raymond James Trust N.A. now owns 13,947 shares of the company’s stock valued at $490,000 after buying an additional 757 shares during the last quarter. Finally, American International Group Inc. raised its holdings in shares of Premier by 96.5% in the fourth quarter. American International Group Inc. now owns 1,576 shares of the company’s stock valued at $55,000 after buying an additional 774 shares during the last quarter. 62.53% of the stock is owned by hedge funds and other institutional investors.

PINC stock opened at $35.51 on Friday. The company’s 50 day simple moving average is $34.20 and its 200-day simple moving average is $34.68. The firm has a market capitalization of $4.34 billion, a PE ratio of -6.80, a P/E/G ratio of 2.25 and a beta of 0.26. Premier, Inc. has a 12 month low of $28.64 and a 12 month high of $37.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.07 and a quick ratio of 0.86.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, February 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.11. Premier had a net margin of 3.26% and a return on equity of 65.81%. The firm had revenue of $422.80 million for the quarter, compared to analyst estimates of $388.92 million. During the same quarter last year, the business earned $0.74 earnings per share. Premier’s revenue was up 32.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Premier, Inc. will post 2.1 earnings per share for the current year.

PINC has been the subject of a number of research reports. Jefferies Financial Group cut shares of Premier from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Friday, January 8th. Craig Hallum increased their price target on shares of Premier from $33.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, February 4th. Credit Suisse Group cut shares of Premier from a “neutral” rating to an “underperform” rating and set a $35.00 price target for the company. in a report on Friday, January 15th. Raymond James increased their price target on shares of Premier from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, February 3rd. Finally, Bank of America cut shares of Premier from a “buy” rating to an “underperform” rating and cut their price target for the stock from $41.00 to $36.00 in a report on Tuesday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Premier currently has an average rating of “Hold” and an average target price of $38.31.

In related news, CFO Craig S. Mckasson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $35.11, for a total transaction of $175,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by company insiders.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with 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 document shredding services.

Recommended Story: Inflation

Want to see what other hedge funds are holding PINC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Premier, Inc. (NASDAQ:PINC).

Institutional Ownership by Quarter for Premier (NASDAQ:PINC)

Receive News & Ratings for Premier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier and related companies with MarketBeat.com's FREE daily email newsletter.