Truist Financial Corp Cuts Holdings in Progyny, Inc. (NASDAQ:PGNY)

Truist Financial Corp decreased its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,545 shares of the company’s stock after selling 4,534 shares during the period. Truist Financial Corp’s holdings in Progyny were worth $492,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Leibman Financial Services Inc. grew its position in Progyny by 100.7% in the fourth quarter. Leibman Financial Services Inc. now owns 63,509 shares of the company’s stock worth $1,096,000 after acquiring an additional 31,872 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in Progyny by 90.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock worth $25,319,000 after acquiring an additional 695,740 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in Progyny by 15.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after acquiring an additional 132,672 shares in the last quarter. Aurora Investment Counsel purchased a new position in Progyny in the third quarter worth about $1,280,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Progyny in the fourth quarter worth about $989,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $22.00 on Tuesday. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 2.39 and a beta of 1.34. The stock has a 50 day moving average price of $20.83 and a 200 day moving average price of $18.67. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $38.98.

Analysts Set New Price Targets

Several research analysts recently commented on PGNY shares. Barclays dropped their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Truist Financial restated a “hold” rating and set a $19.00 target price (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a research report on Friday. Bank of America boosted their target price on Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. boosted their target price on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.82.

Insider Activity at Progyny

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

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.