Arizona State Retirement System Grows Holdings in Progyny, Inc. (NASDAQ:PGNY)

Arizona State Retirement System boosted its holdings in Progyny, Inc. (NASDAQ:PGNY) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,003 shares of the company’s stock after purchasing an additional 1,155 shares during the quarter. Arizona State Retirement System’s holdings in Progyny were worth $892,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in Progyny by 3.8% during the 1st quarter. BlackRock Inc. now owns 9,700,353 shares of the company’s stock worth $311,575,000 after buying an additional 353,499 shares during the last quarter. Vanguard Group Inc. raised its position in Progyny by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,157,604 shares of the company’s stock worth $277,522,000 after buying an additional 565,160 shares during the last quarter. Clearbridge Investments LLC raised its position in Progyny by 2.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,223,502 shares of the company’s stock worth $165,688,000 after buying an additional 86,249 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Progyny by 11.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 2,885,980 shares of the company’s stock worth $92,698,000 after buying an additional 293,192 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Progyny by 19.4% during the 3rd quarter. Jennison Associates LLC now owns 2,706,454 shares of the company’s stock worth $92,074,000 after buying an additional 438,932 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insider Activity at Progyny

In related news, Chairman David J. Schlanger sold 1,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.52, for a total value of $37,520.00. Following the sale, the chairman now directly owns 83,631 shares of the company’s stock, valued at approximately $3,137,835.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Progyny news, Chairman David J. Schlanger sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.52, for a total transaction of $37,520.00. Following the sale, the chairman now directly owns 83,631 shares of the company’s stock, valued at approximately $3,137,835.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael E. Sturmer sold 2,260 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $40.00, for a total transaction of $90,400.00. Following the sale, the president now directly owns 158,532 shares in the company, valued at $6,341,280. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,515 shares of company stock valued at $4,570,131. Insiders own 14.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PGNY shares. Leerink Partnrs restated an “outperform” rating on shares of Progyny in a research report on Monday, February 26th. SVB Leerink assumed coverage on shares of Progyny in a research note on Monday, February 26th. They set an “outperform” rating and a $49.00 price target on the stock. Barclays assumed coverage on shares of Progyny in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $48.00 price target on the stock. Truist Financial lowered their price target on shares of Progyny from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 price target on shares of Progyny in a research note on Wednesday, February 28th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $48.30.

Progyny Trading Down 1.2 %

Shares of NASDAQ PGNY opened at $33.39 on Wednesday. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 1.41 and a beta of 1.48. Progyny, Inc. has a 52 week low of $29.44 and a 52 week high of $44.95. The company’s 50-day moving average price is $37.15 and its 200 day moving average price is $35.71.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $269.94 million for the quarter, compared to analysts’ expectations of $274.08 million. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. As a group, research analysts expect that Progyny, Inc. will post 0.7 earnings per share for the current year.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.