Nippon Life Global Investors Americas Inc. Purchases 9,340 Shares of Progyny, Inc. (NASDAQ:PGNY)

Nippon Life Global Investors Americas Inc. grew its position in Progyny, Inc. (NASDAQ:PGNY) by 39.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,260 shares of the company’s stock after acquiring an additional 9,340 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Progyny were worth $952,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PGNY. Vanguard Group Inc. grew its holdings in Progyny by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock worth $317,097,000 after purchasing an additional 41,687 shares during the period. Jennison Associates LLC boosted its stake in shares of Progyny by 2.7% during the 1st quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock worth $99,054,000 after acquiring an additional 67,632 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Progyny by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,400,701 shares of the company’s stock worth $53,437,000 after acquiring an additional 42,302 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Progyny by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after acquiring an additional 254,725 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its stake in Progyny by 11.8% in the 1st quarter. Congress Asset Management Co. MA now owns 1,009,483 shares of the company’s stock valued at $38,512,000 after acquiring an additional 106,574 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday. Cantor Fitzgerald reduced their target price on shares of Progyny from $37.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and cut their price objective for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. Finally, Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.73.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $16.62 on Monday. The company has a market capitalization of $1.58 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.97 and a beta of 1.45. Progyny, Inc. has a 1 year low of $13.93 and a 1 year high of $42.08. The business’s 50 day simple moving average is $24.08 and its 200 day simple moving average is $28.57.

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 analysts’ consensus estimates of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The company had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the prior year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

Insider Activity

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

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.