Sei Investments Co. Decreases Stake in Progyny, Inc. $PGNY

Sei Investments Co. lowered its stake in Progyny, Inc. (NASDAQ:PGNY) by 46.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 80,493 shares of the company’s stock after selling 71,205 shares during the quarter. Sei Investments Co. owned 0.10% of Progyny worth $1,367,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in shares of Progyny by 0.7% in the second quarter. California State Teachers Retirement System now owns 70,421 shares of the company’s stock worth $1,549,000 after buying an additional 457 shares during the period. Teza Capital Management LLC raised its holdings in Progyny by 5.4% during the 2nd quarter. Teza Capital Management LLC now owns 10,068 shares of the company’s stock valued at $221,000 after buying an additional 516 shares during the last quarter. Aristides Capital LLC boosted its position in Progyny by 4.6% during the 3rd quarter. Aristides Capital LLC now owns 11,938 shares of the company’s stock valued at $257,000 after buying an additional 528 shares during the period. Oxford Asset Management LLP boosted its position in Progyny by 4.3% during the 2nd quarter. Oxford Asset Management LLP now owns 12,918 shares of the company’s stock valued at $284,000 after buying an additional 531 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Progyny by 3.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,202 shares of the company’s stock worth $493,000 after acquiring an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group set a $35.00 price objective on shares of Progyny in a research report on Friday. Wall Street Zen lowered shares of Progyny from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Citizens Jmp raised their target price on Progyny from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Zacks Research upgraded Progyny from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised Progyny from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Progyny presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Progyny Trading Down 4.6%

Shares of Progyny stock opened at $26.57 on Wednesday. Progyny, Inc. has a 12-month low of $16.10 and a 12-month high of $33.06. The company has a market cap of $2.08 billion, a P/E ratio of 28.88, a PEG ratio of 2.02 and a beta of 1.01. The company’s fifty day simple moving average is $29.14 and its two-hundred day simple moving average is $23.45.

Progyny declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 10.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP Allison Swartz sold 1,199 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $25.02, for a total value of $29,998.98. Following the completion of the transaction, the executive vice president directly owned 83,316 shares of the company’s stock, valued at $2,084,566.32. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the completion of the sale, the insider owned 59,117 shares of the company’s stock, valued at $1,512,212.86. This trade represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 36,916 shares of company stock worth $939,875. 9.90% of the stock is owned by company insiders.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.