Russell Investments Group Ltd. Lowers Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Posted by Defense World Staff on May 17th, 2023

Russell Investments Group Ltd. decreased its position in shares of Progyny, Inc. (NASDAQ:PGNY – Get Rating) by 8.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,460 shares of the company’s stock after selling 15,798 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.18% of Progyny worth $5,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PGNY. KPCB XIII Associates LLC bought a new stake in shares of Progyny in the 4th quarter worth about $201,650,000. Millennium Management LLC boosted its stake in shares of Progyny by 2,646.2% during the second quarter. Millennium Management LLC now owns 632,257 shares of the company’s stock valued at $18,367,000 after purchasing an additional 609,234 shares in the last quarter. Must Asset Management Inc. lifted its position in Progyny by 3,698.9% during the fourth quarter. Must Asset Management Inc. now owns 367,015 shares of the company’s stock valued at $11,495,000 after acquiring an additional 357,354 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Progyny by 15.4% during the third quarter. Thrivent Financial for Lutherans now owns 2,506,859 shares of the company’s stock valued at $92,904,000 after acquiring an additional 335,442 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Progyny by 64.1% during the third quarter. Nuveen Asset Management LLC now owns 772,127 shares of the company’s stock valued at $28,615,000 after acquiring an additional 301,511 shares during the last quarter. 86.12% of the stock is currently owned by institutional investors.

Progyny Stock Down 0.1 %

Shares of NASDAQ PGNY opened at $35.95 on Wednesday. The company’s 50-day simple moving average is $33.34 and its 200-day simple moving average is $33.67. Progyny, Inc. has a 52-week low of $25.67 and a 52-week high of $46.50. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 83.60, a price-to-earnings-growth ratio of 2.13 and a beta of 1.51.

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

Insider Transactions at Progyny

In other news, CEO Peter Anevski sold 32,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $36.24, for a total value of $1,159,680.00. Following the transaction, the chief executive officer now directly owns 215,924 shares of the company’s stock, valued at $7,825,085.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Peter Anevski sold 32,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $36.24, for a total value of $1,159,680.00. Following the sale, the chief executive officer now directly owns 215,924 shares of the company’s stock, valued at approximately $7,825,085.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David J. Schlanger sold 10,224 shares of the business’s 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 $357,840.00. Following the completion of the sale, the chairman now directly owns 73,487 shares in the company, valued at $2,572,045. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,826 shares of company stock valued at $12,704,041. Corporate insiders own 14.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America raised their price target on shares of Progyny from $48.00 to $50.00 in a report on Tuesday, May 9th. Cantor Fitzgerald raised their price target on shares of Progyny from $44.00 to $45.00 in a research report on Tuesday, May 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.67.

Progyny Profile

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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.