M&G Plc Makes New $1.16 Million Investment in Progyny, Inc. (NASDAQ:PGNY)

M&G Plc purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,418 shares of the company’s stock, valued at approximately $1,156,000.

Other large investors also recently made changes to their positions in the company. TFC Financial Management Inc. acquired a new stake in shares of Progyny in the first quarter worth $42,000. Financial Management Professionals Inc. bought a new position in shares of Progyny in the 1st quarter worth about $52,000. Parkside Financial Bank & Trust lifted its position in Progyny by 9.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock valued at $115,000 after purchasing an additional 264 shares during the last quarter. Assetmark Inc. increased its stake in Progyny by 26.8% during the 4th quarter. Assetmark Inc. now owns 3,756 shares of the company’s stock valued at $140,000 after buying an additional 793 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of Progyny in the 1st quarter worth approximately $185,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Insider Activity

In related news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction 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 transaction, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following 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 Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction 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 directly owns 362,583 shares in the company, valued at approximately $10,877,490. The disclosure for this sale can be found here. Insiders have sold a total of 15,007 shares of company stock valued at $456,660 over the last 90 days. 12.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PGNY has been the topic of several analyst reports. Truist Financial dropped their target price on shares of Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 target price on shares of Progyny in a research report on Thursday, May 16th. Canaccord Genuity Group dropped their target price on shares of Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. KeyCorp downgraded shares of Progyny from an “overweight” rating to a “sector weight” rating in a research report on Friday, May 10th. Finally, Barclays dropped their target price on shares of Progyny from $48.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.40.

Progyny Trading Down 0.8 %

NASDAQ PGNY traded down $0.23 during trading on Friday, reaching $27.79. The company’s stock had a trading volume of 1,167,956 shares, compared to its average volume of 993,302. The stock has a market capitalization of $2.65 billion, a PE ratio of 45.56, a PEG ratio of 1.80 and a beta of 1.46. The business has a 50-day moving average price of $27.54 and a 200-day moving average price of $33.31. Progyny, Inc. has a 1-year low of $23.90 and a 1-year high of $44.95.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The company had revenue of $278.08 million for the quarter, compared to analyst estimates of $289.41 million. During the same quarter last year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that Progyny, Inc. will post 0.73 earnings per share for the current year.

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.