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

Truist Financial Corp lessened its stake in Progyny, Inc. (NASDAQ:PGNY) by 29.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,993 shares of the company’s stock after selling 26,764 shares during the period. Truist Financial Corp owned about 0.07% of Progyny worth $2,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Progyny by 352,414.2% in the fourth quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock valued at $218,485,000 after buying an additional 5,874,744 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Progyny by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,157,604 shares of the company’s stock valued at $277,522,000 after purchasing an additional 565,160 shares in the last quarter. Jennison Associates LLC raised its holdings in Progyny by 19.4% in the 3rd quarter. Jennison Associates LLC now owns 2,706,454 shares of the company’s stock worth $92,074,000 after purchasing an additional 438,932 shares during the period. Invesco Ltd. boosted its position in Progyny by 67.0% during the third quarter. Invesco Ltd. now owns 888,427 shares of the company’s stock worth $30,224,000 after purchasing an additional 356,529 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Progyny by 58.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 688,020 shares of the company’s stock valued at $25,581,000 after purchasing an additional 252,910 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PGNY has been the topic of a number of research analyst reports. 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 target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 target price on shares of Progyny in a report on Wednesday, February 28th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. KeyCorp dropped their price target on Progyny from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Finally, Truist Financial restated a “buy” rating and issued a $46.00 price objective on shares of Progyny in a report on Wednesday, April 17th. Ten investment 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 a consensus target price of $48.30.

Progyny Stock Down 2.7 %

Shares of NASDAQ:PGNY opened at $32.16 on Thursday. Progyny, Inc. has a 52-week low of $29.44 and a 52-week high of $44.95. The business has a fifty day moving average of $34.75 and a two-hundred day moving average of $35.61. The stock has a market cap of $3.09 billion, a P/E ratio of 51.87, a PEG ratio of 1.31 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. Progyny had a net margin of 5.70% and a return on equity of 12.64%. Progyny’s quarterly 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, equities analysts anticipate that Progyny, Inc. will post 0.7 earnings per share for the current year.

Insider Activity

In related news, Chairman David J. Schlanger sold 5,826 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.74, for a total value of $219,873.24. Following the sale, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,257,414.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman David J. Schlanger sold 5,826 shares of Progyny stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total value of $219,873.24. Following the completion of the sale, the chairman now owns 86,312 shares in the company, valued at approximately $3,257,414.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David J. Schlanger sold 2,597 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $37.65, for a total value of $97,777.05. Following the transaction, the chairman now owns 86,312 shares in the company, valued at $3,249,646.80. 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 in the last quarter. Insiders own 12.30% of the company’s stock.

Progyny Company 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.