Retirement Systems of Alabama Buys Shares of 104,426 Progyny, Inc. (NASDAQ:PGNY)

Retirement Systems of Alabama bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 104,426 shares of the company's stock, valued at approximately $3,883,000. Retirement Systems of Alabama owned approximately 0.11% of Progyny at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PGNY. RiverPark Advisors LLC grew its position in Progyny by 54.0% during the 4th quarter. RiverPark Advisors LLC now owns 1,067 shares of the company's stock worth $40,000 after acquiring an additional 374 shares during the last quarter. Acadian Asset Management LLC bought a new position in Progyny in the 3rd quarter valued at approximately $53,000. Parkside Financial Bank & Trust boosted 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 buying an additional 264 shares during the period. Cetera Trust Company N.A bought a new stake in Progyny during the 4th quarter worth approximately $183,000. Finally, Duality Advisers LP acquired a new position in Progyny in the 3rd quarter valued at approximately $202,000. Institutional investors own 94.93% of the company's stock.

Insider Buying and Selling at Progyny

In related news, Chairman David J. Schlanger sold 2,597 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were 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 of the company's stock, valued at approximately $3,249,646.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, 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 transaction of $97,777.05. Following the completion of the sale, the chairman now owns 86,312 shares in the company, valued at $3,249,646.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David J. Schlanger sold 71,272 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total value of $2,694,081.60. Following the completion of the sale, the chairman now directly owns 86,312 shares of the company's stock, valued at $3,262,593.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,770 shares of company stock worth $3,853,985. 12.30% of the stock is owned by corporate insiders.

Progyny Stock Up 2.0 %

PGNY traded up $0.66 during midday trading on Tuesday, hitting $33.06. The company had a trading volume of 1,344,473 shares, compared to its average volume of 787,787. The stock's 50 day moving average price is $34.95 and its 200 day moving average price is $35.62. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 52.26, a PEG ratio of 1.31 and a beta of 1.51. Progyny, Inc. has a 52 week low of $29.44 and a 52 week high of $44.95.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $269.94 million for the quarter, compared to analyst estimates of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The company's quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Research analysts predict that Progyny, Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PGNY. KeyCorp cut their price target on shares of Progyny from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, February 28th. Truist Financial reissued a "buy" rating and issued a $46.00 price target on shares of Progyny in a research note on Wednesday, April 17th. Leerink Partnrs reaffirmed an "outperform" rating on shares of Progyny in a research note on Monday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $48.00 target price on shares of Progyny in a research report on Wednesday, February 28th. Finally, SVB Leerink began coverage on shares of Progyny in a report on Monday, February 26th. They set an "outperform" rating and a $49.00 price target for the company. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Progyny presently has a consensus rating of "Buy" and an average price target of $48.30.

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.