Raymond James & Associates Sells 16,301 Shares of Progyny, Inc. (NASDAQ:PGNY)

Raymond James & Associates lessened its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 22.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,752 shares of the company’s stock after selling 16,301 shares during the period. Raymond James & Associates’ holdings in Progyny were worth $2,110,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Gotham Asset Management LLC purchased a new position in shares of Progyny during the third quarter worth approximately $1,116,000. Northern Trust Corp raised its position in Progyny by 1.3% during the 3rd quarter. Northern Trust Corp now owns 1,166,806 shares of the company’s stock valued at $39,695,000 after purchasing an additional 15,208 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Progyny by 67.0% in the 3rd quarter. Invesco Ltd. now owns 888,427 shares of the company’s stock worth $30,224,000 after buying an additional 356,529 shares during the period. Deutsche Bank AG increased its stake in shares of Progyny by 12.7% during the third quarter. Deutsche Bank AG now owns 42,029 shares of the company’s stock valued at $1,430,000 after buying an additional 4,738 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Progyny by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,648 shares of the company’s stock valued at $21,455,000 after acquiring an additional 46,144 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Insider Activity

In related news, CFO Mark S. Livingston sold 11,165 shares of Progyny stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.62, for a total transaction of $420,027.30. Following the completion of the sale, the chief financial officer now owns 50,119 shares of the company’s stock, valued at $1,885,476.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Mark S. Livingston sold 11,165 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.62, for a total value of $420,027.30. Following the sale, the chief financial officer now owns 50,119 shares in the company, valued at $1,885,476.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the transaction, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,515 shares of company stock valued at $4,570,131. Company insiders own 14.00% of the company’s stock.

Progyny Trading Down 1.2 %

Shares of Progyny stock opened at $33.39 on Wednesday. The firm’s 50 day simple moving average is $37.15 and its two-hundred day simple moving average is $35.71. The firm has a market capitalization 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 12-month low of $29.44 and a 12-month high of $44.95.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on PGNY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 price objective on shares of Progyny in a report on Wednesday, February 28th. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Barclays began coverage on Progyny in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $48.00 price target for the company. Truist Financial dropped their price objective on Progyny from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, KeyCorp decreased their target price on shares of Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $48.30.

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.