Thrivent Financial for Lutherans Trims Stake in Progyny, Inc. (NASDAQ:PGNY)

Thrivent Financial for Lutherans lessened its position in Progyny, Inc. (NASDAQ:PGNY) by 38.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,120,555 shares of the company’s stock after selling 685,639 shares during the quarter. Thrivent Financial for Lutherans owned 1.18% of Progyny worth $32,059,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PGNY. TFC Financial Management Inc. purchased a new position in shares of Progyny during the first quarter valued at approximately $42,000. Financial Management Professionals Inc. purchased a new position in Progyny during the 1st quarter valued at $52,000. Cambridge Trust Co. bought a new position in Progyny in the 1st quarter valued at $95,000. Natixis Investment Managers International purchased a new stake in Progyny in the first quarter worth $117,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Progyny during the second quarter worth $97,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Price Performance

Progyny stock opened at $17.19 on Tuesday. Progyny, Inc. has a 1-year low of $13.93 and a 1-year high of $42.08. The business has a fifty day moving average price of $23.85 and a 200-day moving average price of $28.45. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.97 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. On average, equities research analysts anticipate that Progyny, Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PGNY has been the subject of a number of research reports. Cantor Fitzgerald lowered their price target on Progyny from $37.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. JPMorgan Chase & Co. reduced their price target on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group cut their price objective on shares of Progyny from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Friday. Finally, Truist Financial lowered their target price on Progyny from $33.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Progyny has a consensus rating of “Hold” and an average target price of $27.73.

Insiders Place Their Bets

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Progyny news, Director Cheryl Scott sold 1,462 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by insiders.

Progyny 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.