American International Group Inc. Trims Stake in Progyny, Inc. (NASDAQ:PGNY)

American International Group Inc. decreased its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,446 shares of the company’s stock after selling 4,011 shares during the quarter. American International Group Inc. owned 0.16% of Progyny worth $5,631,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. RiverPark Advisors LLC grew its stake in Progyny by 54.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock worth $40,000 after buying an additional 374 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Progyny in the third quarter worth $53,000. Parkside Financial Bank & Trust increased its stake in Progyny by 9.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after acquiring an additional 264 shares during the last quarter. Assetmark Inc. raised its position in Progyny by 26.8% during the fourth quarter. Assetmark Inc. now owns 3,756 shares of the company’s stock valued at $140,000 after purchasing an additional 793 shares in the last quarter. Finally, Cetera Trust Company N.A bought a new stake in Progyny during the fourth quarter worth about $183,000. 94.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman David J. Schlanger sold 2,597 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $37.65, for a total value of $97,777.05. Following the completion of the transaction, the chairman now directly owns 86,312 shares of the company’s stock, valued at $3,249,646.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total value of $2,694,081.60. Following the completion of the transaction, the chairman now owns 86,312 shares in the company, valued at approximately $3,262,593.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David J. Schlanger sold 2,597 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $37.65, for a total value of $97,777.05. Following the completion of the sale, the chairman now directly owns 86,312 shares in the company, valued at $3,249,646.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,944 shares of company stock valued at $3,634,112. Corporate insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PGNY shares. Truist Financial decreased their price objective on Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, May 17th. BTIG Research lowered their price objective on shares of Progyny from $50.00 to $41.00 and set a “buy” rating for the company in a report on Friday, May 10th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 target price on shares of Progyny in a research report on Thursday, May 16th. Finally, SVB Leerink initiated coverage on shares of Progyny in a research report on Monday, February 26th. They set an “outperform” rating and a $49.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

Progyny Stock Up 2.1 %

Shares of Progyny stock opened at $25.86 on Friday. The firm has a market cap of $2.46 billion, a PE ratio of 42.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.46. The company’s fifty day simple moving average is $29.16 and its two-hundred day simple moving average is $34.51. Progyny, Inc. has a 12-month low of $23.90 and a 12-month high of $44.95.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, May 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $278.08 million for the quarter, compared to analysts’ expectations of $289.41 million. Progyny had a return on equity of 11.61% and a net margin of 5.53%. Progyny’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts expect that Progyny, Inc. will post 0.73 earnings per share for the current fiscal year.

About Progyny

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.