Truist Financial Corp Lowers Stake in Progyny, Inc. (NASDAQ:PGNY)

Truist Financial Corp lowered its stake 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 firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PGNY. Pacer Advisors Inc. lifted its holdings in shares of Progyny by 12,579.4% during the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after purchasing an additional 2,472,983 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in shares of Progyny during the 3rd quarter valued at $29,509,000. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Progyny by 90.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after purchasing an additional 695,740 shares during the last quarter. Barclays PLC lifted its holdings in shares of Progyny by 530.4% during the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after purchasing an additional 594,140 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Progyny by 227.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 789,418 shares of the company’s stock valued at $13,231,000 after purchasing an additional 548,602 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of PGNY opened at $22.00 on Tuesday. The business’s 50-day moving average is $20.83 and its two-hundred day moving average is $18.67. The company has a market capitalization of $1.87 billion, a P/E ratio of 37.93, a P/E/G ratio of 2.39 and a beta of 1.34. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $38.98.

Insiders Place Their Bets

In related news, CEO Peter Anevski purchased 209,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased 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 owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This represents a 90.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David J. Schlanger purchased 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the purchase, the chairman now directly owns 228,269 shares in the company, valued at $3,350,988.92. This 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 insiders.

Analyst Ratings Changes

Several analysts have recently commented on PGNY shares. Canaccord Genuity Group increased their price objective on Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a report on Friday. Truist Financial reiterated a “hold” rating and set a $19.00 price objective (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped 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. Bank of America upped 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, Barclays cut their target price on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.82.

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.