Clearbridge Investments LLC Sells 448,161 Shares of Progyny, Inc. (NASDAQ:PGNY)

Clearbridge Investments LLC reduced its position in Progyny, Inc. (NASDAQ:PGNY) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,492,360 shares of the company’s stock after selling 448,161 shares during the period. Clearbridge Investments LLC owned approximately 3.64% of Progyny worth $129,846,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PGNY. International Assets Investment Management LLC lifted its holdings in shares of Progyny by 352,414.2% in the 4th quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company’s stock worth $218,485,000 after purchasing an additional 5,874,744 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 worth $277,522,000 after purchasing an additional 565,160 shares in the last quarter. Norges Bank bought a new position in shares of Progyny in the 4th quarter worth $14,198,000. Invesco Ltd. lifted its holdings in shares of Progyny by 67.0% in the 3rd 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 lifted its stake in Progyny by 58.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 688,020 shares of the company’s stock valued at $25,581,000 after acquiring an additional 252,910 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

Progyny Trading Up 0.8 %

Shares of PGNY traded up $0.22 during trading hours on Tuesday, reaching $28.22. 202,838 shares of the company’s stock traded hands, compared to its average volume of 918,949. The stock has a market cap of $2.69 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 1.98 and a beta of 1.51. The firm’s 50 day simple moving average is $33.61 and its 200-day simple moving average is $35.49. Progyny, Inc. has a 12 month low of $23.90 and a 12 month high of $44.95.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $278.08 million during the quarter, compared to the consensus estimate of $289.41 million. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. As a group, analysts expect that Progyny, Inc. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PGNY has been the topic of several recent analyst reports. KeyCorp cut Progyny from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 10th. Leerink Partnrs restated an “outperform” rating on shares of Progyny in a research note on Monday, February 26th. SVB Leerink initiated coverage on Progyny in a research note on Monday, February 26th. They set an “outperform” rating and a $49.00 price objective on the stock. BTIG Research dropped their price objective on Progyny from $50.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Barclays dropped their price objective on Progyny from $48.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.11.

Insider Activity

In other news, Chairman David J. Schlanger sold 2,597 shares of Progyny stock in a transaction dated 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 approximately $3,249,646.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Michael E. Sturmer sold 6,395 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.60, for a total value of $240,452.00. Following the completion of the sale, the president now owns 384,553 shares in the company, valued at approximately $14,459,192.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David J. Schlanger sold 2,597 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,249,646.80. 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 currently owned by insiders.

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.