The Manufacturers Life Insurance Company Has $758,000 Holdings in Progyny, Inc. (NASDAQ:PGNY)

The Manufacturers Life Insurance Company reduced its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 55.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,236 shares of the company's stock after selling 55,948 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Progyny worth $758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. RiverPark Advisors LLC boosted its holdings in shares of Progyny by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company's stock worth $155,000 after acquiring an additional 474 shares in the last quarter. Arizona State Retirement System boosted its stake in Progyny by 2.6% in the second quarter. Arizona State Retirement System now owns 24,313 shares of the company's stock worth $696,000 after purchasing an additional 609 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Progyny by 1.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company's stock worth $2,023,000 after purchasing an additional 787 shares during the last quarter. Quarry LP increased its stake in shares of Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company's stock valued at $25,000 after buying an additional 836 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Progyny by 13.8% in the second quarter. Creative Planning now owns 10,564 shares of the company's stock valued at $302,000 after buying an additional 1,283 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PGNY shares. Jefferies Financial Group decreased their price objective on shares of Progyny from $31.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, September 19th. JMP Securities cut shares of Progyny from an "outperform" rating to a "market perform" rating in a research note on Thursday, September 19th. Barclays dropped their price objective on shares of Progyny from $30.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Leerink Partners reduced their price objective on Progyny from $25.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, September 19th. Finally, Bank of America lowered their target price on Progyny from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Progyny presently has a consensus rating of "Hold" and an average price target of $25.00.

Progyny Stock Performance

PGNY traded down $0.25 during midday trading on Friday, reaching $14.61. 892,491 shares of the company were exchanged, compared to its average volume of 1,400,083. The stock has a market capitalization of $1.24 billion, a P/E ratio of 25.19, a PEG ratio of 1.73 and a beta of 1.35. Progyny, Inc. has a one year low of $13.39 and a one year high of $42.08. The stock's 50-day simple moving average is $15.53 and its 200 day simple moving average is $21.34.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). The firm had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. On average, research analysts anticipate that Progyny, Inc. will post 0.59 earnings per share for the current year.

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.