Bank of New York Mellon Corp Sells 54,551 Shares of Progyny, Inc. (NASDAQ:PGNY)

Bank of New York Mellon Corp lowered its position in Progyny, Inc. (NASDAQ:PGNY) by 9.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 540,072 shares of the company’s stock after selling 54,551 shares during the period. Bank of New York Mellon Corp’s holdings in Progyny were worth $9,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Progyny by 341.4% in the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after buying an additional 1,246 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Progyny by 108.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock valued at $51,000 after buying an additional 1,526 shares during the period. Caitlin John LLC increased its stake in shares of Progyny by 2,974.8% in the 4th quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after buying an additional 3,183 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Progyny in the 3rd quarter worth $77,000. Finally, KBC Group NV boosted its position in shares of Progyny by 84.6% in the 4th quarter. KBC Group NV now owns 4,669 shares of the company’s stock worth $81,000 after purchasing an additional 2,140 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PGNY shares. Canaccord Genuity Group lifted their target price on Progyny from $17.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, February 28th. Bank of America upped their price objective on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their target price on Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.82.

Progyny Stock Up 2.6 %

Progyny stock opened at $20.36 on Friday. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $38.98. The company’s 50 day moving average price is $21.58 and its two-hundred day moving average price is $18.66. The stock has a market cap of $1.74 billion, a P/E ratio of 35.10, a P/E/G ratio of 2.39 and a beta of 1.41.

Insider Buying and Selling

In other news, CEO Peter Anevski purchased 209,500 shares of Progyny stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the transaction, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David J. Schlanger bought 150,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the transaction, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. 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.