PNC Financial Services Group Inc. reduced its holdings in Progyny, Inc. (NASDAQ:PGNY – Get Rating) by 12.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,260 shares of the company’s stock after selling 1,416 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Progyny were worth $320,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PGNY. BlackRock Inc. boosted its stake in Progyny by 2.8% in the third quarter. BlackRock Inc. now owns 8,667,544 shares of the company’s stock worth $321,219,000 after purchasing an additional 236,406 shares in the last quarter. Vanguard Group Inc. lifted its position in Progyny by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,852,362 shares of the company’s stock worth $253,949,000 after buying an additional 140,947 shares in the last quarter. KPCB XIII Associates LLC bought a new stake in Progyny during the 4th quarter worth about $201,650,000. Clearbridge Investments LLC increased its position in Progyny by 2.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,223,502 shares of the company’s stock valued at $165,688,000 after acquiring an additional 86,249 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Progyny by 3.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,592,788 shares of the company’s stock worth $80,766,000 after acquiring an additional 85,929 shares during the last quarter. 86.12% of the stock is currently owned by institutional investors.
Insider Activity at Progyny
In other Progyny news, CEO Peter Anevski sold 1,857 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $35.00, for a total value of $64,995.00. Following the sale, the chief executive officer now directly owns 215,924 shares in the company, valued at $7,557,340. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman David J. Schlanger sold 41,667 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $37.55, for a total transaction of $1,564,595.85. Following the completion of the sale, the chairman now directly owns 73,487 shares of the company’s stock, valued at approximately $2,759,436.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Anevski sold 1,857 shares of Progyny stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $35.00, for a total transaction of $64,995.00. Following the completion of the transaction, the chief executive officer now directly owns 215,924 shares in the company, valued at approximately $7,557,340. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 338,236 shares of company stock worth $12,280,840. 14.00% of the stock is currently owned by company insiders.
Progyny Stock Performance
Progyny (NASDAQ:PGNY – Get Rating) last released its earnings results on Monday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.10. The firm had revenue of $258.40 million for the quarter, compared to analyst estimates of $246.63 million. Progyny had a return on equity of 11.81% and a net margin of 4.93%. The company’s quarterly revenue was up 50.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, research analysts forecast that Progyny, Inc. will post 0.44 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently commented on PGNY shares. 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 increased their price objective on Progyny from $44.00 to $45.00 in a research report on Tuesday, May 9th. Finally, BTIG Research started coverage on Progyny in a research report on Monday, May 22nd. They set a “buy” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and an average target price of $48.86.
Progyny Company Profile
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.
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