Amalgamated Bank Has $1.66 Million Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Posted by Defense World Staff on Jun 6th, 2023

Amalgamated Bank raised its stake in Progyny, Inc. (NASDAQ:PGNY – Get Rating) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,144 shares of the company’s stock after buying an additional 1,215 shares during the quarter. Amalgamated Bank owned 0.06% of Progyny worth $1,655,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PGNY. Raymond James & Associates increased its stake in Progyny by 27.2% in the 1st quarter. Raymond James & Associates now owns 72,220 shares of the company’s stock valued at $3,712,000 after buying an additional 15,432 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Progyny by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 672,710 shares of the company’s stock worth $34,579,000 after purchasing an additional 9,017 shares during the last quarter. US Bancorp DE increased its stake in shares of Progyny by 92.3% during the 1st quarter. US Bancorp DE now owns 14,276 shares of the company’s stock worth $734,000 after purchasing an additional 6,854 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Progyny by 22.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,296 shares of the company’s stock worth $632,000 after purchasing an additional 2,265 shares during the last quarter. Finally, Natixis Advisors L.P. increased its stake in shares of Progyny by 47.3% during the 1st quarter. Natixis Advisors L.P. now owns 29,595 shares of the company’s stock worth $1,521,000 after purchasing an additional 9,497 shares during the last quarter. Institutional investors and hedge funds own 86.12% of the company’s stock.

Progyny Price Performance

Shares of Progyny stock opened at $40.14 on Tuesday. Progyny, Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $46.50. The firm has a fifty day moving average price of $34.66 and a two-hundred day moving average price of $33.56. The company has a market cap of $3.79 billion, a PE ratio of 93.35, a price-to-earnings-growth ratio of 2.21 and a beta of 1.51.

Progyny (NASDAQ:PGNY – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. The firm had revenue of $258.40 million during the quarter, compared to the consensus estimate of $246.63 million. Progyny had a net margin of 4.93% and a return on equity of 11.81%. The business’s revenue was up 50.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Analysts expect that Progyny, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other news, Director Kevin K. Gordon sold 1,410 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $38.24, for a total transaction of $53,918.40. Following the completion of the transaction, the director now directly owns 12,354 shares of the company’s stock, valued at approximately $472,416.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Progyny news, Chairman David J. Schlanger sold 41,667 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $37.55, for a total value of $1,564,595.85. Following the transaction, the chairman now owns 73,487 shares of the company’s stock, valued at $2,759,436.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin K. Gordon sold 1,410 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $38.24, for a total value of $53,918.40. Following the completion of the sale, the director now owns 12,354 shares of the company’s stock, valued at $472,416.96. The disclosure for this sale can be found here. In the last three months, insiders sold 338,236 shares of company stock valued at $12,280,840. Company insiders own 14.00% of the company’s stock.

Analysts Set New Price Targets

PGNY has been the topic of several analyst reports. Bank of America increased their price target on shares of Progyny from $48.00 to $50.00 in a research note on Tuesday, May 9th. Cantor Fitzgerald raised their target price on shares of Progyny from $44.00 to $45.00 in a research note on Tuesday, May 9th. Finally, BTIG Research started coverage on shares of Progyny in a research note on Monday, May 22nd. They issued a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Progyny presently has an average rating of “Moderate Buy” and a consensus target price of $48.86.

About Progyny

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Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers 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.