Retirement Systems of Alabama Acquires New Shares in Progyny, Inc. (NASDAQ:PGNY)

Retirement Systems of Alabama bought a new stake in Progyny, Inc. (NASDAQ:PGNY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 104,426 shares of the company’s stock, valued at approximately $3,883,000. Retirement Systems of Alabama owned about 0.11% of Progyny as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in shares of Progyny by 4.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,931 shares of the company’s stock valued at $337,000 after purchasing an additional 450 shares during the last quarter. Xponance Inc. grew its stake in shares of Progyny by 3.6% during the third quarter. Xponance Inc. now owns 11,629 shares of the company’s stock worth $396,000 after buying an additional 399 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Progyny by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 769,262 shares of the company’s stock worth $26,170,000 after buying an additional 20,182 shares in the last quarter. Bailard Inc. lifted its stake in shares of Progyny by 8.5% in the 3rd quarter. Bailard Inc. now owns 7,700 shares of the company’s stock valued at $262,000 after acquiring an additional 600 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Progyny by 3.9% during the 3rd quarter. Brown Advisory Inc. now owns 10,611 shares of the company’s stock valued at $361,000 after acquiring an additional 403 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Trading Up 2.1 %

PGNY stock opened at $32.40 on Tuesday. Progyny, Inc. has a 1-year low of $29.44 and a 1-year high of $44.95. The stock has a 50-day moving average price of $35.10 and a 200-day moving average price of $35.62. The firm has a market cap of $3.11 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $269.94 million for the quarter, compared to analyst estimates of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, analysts forecast that Progyny, Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling

In other news, President Michael E. Sturmer sold 4,515 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total transaction of $144,254.25. Following the transaction, the president now owns 380,038 shares in the company, valued at $12,142,214.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Michael E. Sturmer sold 4,515 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total transaction of $144,254.25. Following the completion of the sale, the president now owns 380,038 shares in the company, valued at $12,142,214.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David J. Schlanger sold 5,826 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $37.74, for a total value of $219,873.24. Following the completion of the transaction, the chairman now owns 86,312 shares in the company, valued at $3,257,414.88. The disclosure for this sale can be found here. Insiders have sold a total of 102,770 shares of company stock valued at $3,853,985 over the last ninety days. 12.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PGNY shares. KeyCorp lowered their target price on Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Truist Financial reiterated a “buy” rating and set a $46.00 target price on shares of Progyny in a research report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 price target on shares of Progyny in a research report on Wednesday, February 28th. Leerink Partnrs reiterated an “outperform” rating on shares of Progyny in a report on Monday, February 26th. Finally, SVB Leerink started coverage on shares of Progyny in a research note on Monday, February 26th. They issued an “outperform” rating and a $49.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $48.30.

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.