Estabrook Capital Management Increases Stake in Progyny, Inc. (NASDAQ:PGNY)

Estabrook Capital Management increased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 113.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,339 shares of the company’s stock after purchasing an additional 15,585 shares during the quarter. Estabrook Capital Management’s holdings in Progyny were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Caprock Group LLC raised its holdings in Progyny by 5.3% during the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after buying an additional 319 shares during the last quarter. RiverPark Advisors LLC increased its position in shares of Progyny by 9.6% in the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock valued at $155,000 after acquiring an additional 474 shares during the period. State of Michigan Retirement System raised its stake in shares of Progyny by 2.5% during the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock valued at $781,000 after acquiring an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Progyny by 9.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after purchasing an additional 543 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Progyny by 2.6% during the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after purchasing an additional 609 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Price Performance

NASDAQ:PGNY opened at $16.62 on Friday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 27.25, a PEG ratio of 1.97 and a beta of 1.45. Progyny, Inc. has a one year low of $13.93 and a one year high of $42.08. The company’s 50-day simple moving average is $24.08 and its 200 day simple moving average is $28.61.

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

Wall Street Analysts Forecast Growth

PGNY has been the topic of a number of research analyst reports. Truist Financial reduced their price target on Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and decreased their target price for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. BTIG Research downgraded shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Leerink Partners dropped their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.73.

Insider Activity at Progyny

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