Dai ichi Life Insurance Company Ltd Boosts Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Dai ichi Life Insurance Company Ltd lifted its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 26.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,680 shares of the company’s stock after buying an additional 15,980 shares during the period. Dai ichi Life Insurance Company Ltd owned approximately 0.08% of Progyny worth $2,814,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. RiverPark Advisors LLC raised its stake in shares of Progyny by 54.0% in the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock valued at $40,000 after acquiring an additional 374 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Progyny during the 3rd quarter valued at about $53,000. Parkside Financial Bank & Trust lifted its position in Progyny by 9.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock worth $115,000 after acquiring an additional 264 shares in the last quarter. Assetmark Inc. boosted its holdings in Progyny by 26.8% in the 4th quarter. Assetmark Inc. now owns 3,756 shares of the company’s stock worth $140,000 after acquiring an additional 793 shares during the period. Finally, Cetera Trust Company N.A acquired a new stake in Progyny in the fourth quarter valued at approximately $183,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Price Performance

PGNY traded down $0.18 during trading hours on Friday, hitting $26.97. 52,612 shares of the stock were exchanged, compared to its average volume of 930,570. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 44.51, a price-to-earnings-growth ratio of 1.83 and a beta of 1.51. The stock has a 50-day simple moving average of $33.07 and a 200-day simple moving average of $35.34. Progyny, Inc. has a 12 month low of $23.90 and a 12 month high of $44.95.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $278.08 million during the quarter, compared to analyst estimates of $289.41 million. Progyny had a net margin of 5.53% and a return on equity of 11.61%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. Sell-side analysts expect that Progyny, Inc. will post 0.69 EPS for the current year.

Analysts Set New Price Targets

PGNY has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 target price on shares of Progyny in a research note on Thursday, May 16th. Barclays lowered their target price on Progyny from $48.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. KeyCorp downgraded Progyny from an “overweight” rating to a “sector weight” rating in a report on Friday, May 10th. SVB Leerink started coverage on Progyny in a report on Monday, February 26th. They set an “outperform” rating and a $49.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their target price on Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Progyny has a consensus rating of “Moderate Buy” and an average target price of $43.11.

Insider Activity

In related news, Chairman David J. Schlanger sold 71,272 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the completion of the transaction, the chairman now owns 86,312 shares in the company, valued at approximately $3,262,593.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Progyny news, Chairman David J. Schlanger sold 71,272 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the completion of the transaction, the chairman now directly owns 86,312 shares of the company’s stock, valued at approximately $3,262,593.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David J. Schlanger sold 5,826 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.74, for a total transaction of $219,873.24. Following the completion of the transaction, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,257,414.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,770 shares of company stock valued at $3,853,985. 12.30% of the stock is currently owned by insiders.

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.