Progyny, Inc. (NASDAQ:PGNY) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 38.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,120,555 shares of the company’s stock after selling 685,639 shares during the period. Thrivent Financial for Lutherans’ holdings in Progyny were worth $32,059,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in Progyny by 122.2% during the 1st quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock worth $4,891,000 after acquiring an additional 69,552 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Progyny by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after acquiring an additional 22,012 shares in the last quarter. Kestrel Investment Management Corp acquired a new position in shares of Progyny during the second quarter worth $5,005,000. Jennison Associates LLC raised its stake in Progyny by 2.7% in the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock valued at $99,054,000 after buying an additional 67,632 shares in the last quarter. Finally, M&G Plc acquired a new stake in Progyny in the first quarter valued at $1,156,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PGNY shares. Leerink Partnrs downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. BTIG Research cut shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, Cantor Fitzgerald lowered their target price on Progyny from $37.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.73.

Progyny Stock Performance

Shares of PGNY stock opened at $17.19 on Tuesday. Progyny, Inc. has a 1 year low of $13.93 and a 1 year high of $42.08. The stock has a fifty day moving average price of $23.85 and a 200 day moving average price of $28.45. The stock has a market cap of $1.64 billion, a PE ratio of 28.18, a P/E/G ratio of 1.97 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $304.09 million during the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. As a group, equities research analysts predict that Progyny, Inc. will post 0.64 earnings per share for the current year.

Insider Transactions at Progyny

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

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.