Progyny, Inc. (NASDAQ:PGNY) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in Progyny, Inc. (NASDAQ:PGNY) by 87.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,076 shares of the company’s stock after selling 2,660,553 shares during the period. JPMorgan Chase & Co. owned about 0.43% of Progyny worth $6,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PGNY. Victory Capital Management Inc. boosted its stake in shares of Progyny by 11.4% in the second quarter. Victory Capital Management Inc. now owns 72,301 shares of the company’s stock valued at $2,069,000 after buying an additional 7,375 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Progyny by 1.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock worth $2,023,000 after purchasing an additional 787 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Progyny by 9.8% during the 2nd quarter. Federated Hermes Inc. now owns 23,288 shares of the company’s stock worth $666,000 after purchasing an additional 2,071 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Progyny by 18.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 536,120 shares of the company’s stock valued at $15,338,000 after purchasing an additional 83,204 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Progyny by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock valued at $36,676,000 after purchasing an additional 254,725 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insider Activity at Progyny

In related news, CEO Peter Anevski acquired 209,500 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the purchase, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This represents a 90.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David J. Schlanger acquired 150,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $20.75 on Thursday. The company has a 50-day simple moving average of $15.83 and a 200-day simple moving average of $19.68. The company has a market cap of $1.77 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $42.08.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The firm had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. On average, analysts anticipate that Progyny, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on PGNY shares. Canaccord Genuity Group lowered their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Jefferies Financial Group reduced their price objective on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Bank of America lowered their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

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.