Silvercrest Asset Management Group LLC Raises Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Silvercrest Asset Management Group LLC boosted its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 656,138 shares of the company’s stock after acquiring an additional 80,419 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Progyny were worth $25,032,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PGNY. Parkside Financial Bank & Trust lifted its position in shares of Progyny by 9.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock worth $115,000 after purchasing an additional 264 shares during the last quarter. Caprock Group LLC boosted its position in Progyny by 5.3% in the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after buying an additional 319 shares during the period. M&G Investment Management Ltd. grew its stake in Progyny by 1.2% in the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock worth $1,220,000 after acquiring an additional 387 shares in the last quarter. FourThought Financial Partners LLC increased its position in shares of Progyny by 1.3% during the fourth quarter. FourThought Financial Partners LLC now owns 32,683 shares of the company’s stock worth $1,215,000 after acquiring an additional 423 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of Progyny by 0.6% during the fourth quarter. New York State Teachers Retirement System now owns 77,434 shares of the company’s stock valued at $2,879,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the transaction, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total value of $41,506.18. Following the sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael E. Sturmer sold 4,515 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $31.95, for a total transaction of $144,254.25. Following the completion of the sale, the president now owns 380,038 shares in the company, valued at approximately $12,142,214.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,007 shares of company stock valued at $456,660. 12.30% of the stock is owned by company insiders.

Progyny Price Performance

Shares of PGNY stock traded up $0.23 during mid-day trading on Tuesday, hitting $29.25. 218,026 shares of the stock traded hands, compared to its average volume of 947,878. Progyny, Inc. has a 52-week low of $23.90 and a 52-week high of $44.95. The stock has a market cap of $2.79 billion, a P/E ratio of 47.57, a P/E/G ratio of 1.89 and a beta of 1.46. The stock’s fifty day moving average is $27.64 and its two-hundred day moving average is $32.92.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, May 9th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $278.08 million during the quarter, compared to analysts’ expectations of $289.41 million. Progyny had a net margin of 5.53% and a return on equity of 11.61%. Progyny’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, equities analysts forecast that Progyny, Inc. will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PGNY. Cantor Fitzgerald restated an “overweight” rating and set a $48.00 price objective on shares of Progyny in a report on Thursday, May 16th. Canaccord Genuity Group dropped their price target on Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. KeyCorp downgraded Progyny from an “overweight” rating to a “sector weight” rating in a report on Friday, May 10th. Truist Financial dropped their target price on shares of Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Finally, JMP Securities assumed coverage on shares of Progyny in a research report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.40.

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.