218,505 Shares in Progyny, Inc. $PGNY Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 218,505 Progyny shares worth approximately $6.3 million, giving it a 0.28% stake. Institutional investors collectively own 94.93% of the company.
• Progyny exceeded quarterly earnings expectations, reporting $0.55 EPS versus the $0.33 consensus and $350.5 million in revenue, up 5.3% year over year. The company also authorized a $200 million share-repurchase program covering up to 10.3% of outstanding shares.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $33.91, compared with the stock’s reported $26.00 price.

Empowered Funds LLC purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 218,505 shares of the company's stock, valued at approximately $6,299,000. Empowered Funds LLC owned approximately 0.28% of Progyny as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Progyny in the 2nd quarter worth $334,426,000. State Street Corp grew its position in Progyny by 1.5% during the 4th quarter. State Street Corp now owns 2,953,186 shares of the company's stock worth $75,838,000 after acquiring an additional 44,642 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Progyny by 46.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company's stock worth $45,734,000 after purchasing an additional 859,289 shares during the period. Wellington Management Group LLP increased its stake in Progyny by 260.9% in the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company's stock worth $57,607,000 after purchasing an additional 1,621,688 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company's stock valued at $43,933,000 after purchasing an additional 545,431 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

Progyny Stock Performance

NASDAQ:PGNY opened at $26.00 on Monday. The company has a 50-day moving average price of $29.08 and a 200-day moving average price of $23.64. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 1.79 and a beta of 1.01. Progyny, Inc. has a 12 month low of $16.10 and a 12 month high of $33.06.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The company had revenue of $350.51 million for the quarter, compared to analysts' expectations of $349.05 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. Progyny's quarterly revenue was up 5.3% on a year-over-year basis. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Equities analysts forecast that Progyny, Inc. will post 1.25 EPS for the current fiscal year.

Progyny declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PGNY. Citizens Jmp raised their target price on shares of Progyny from $30.00 to $31.00 and gave the stock a "market outperform" rating in a report on Monday, May 11th. BTIG Research upped their price target on shares of Progyny from $30.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 24th. KeyCorp increased their price target on shares of Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Zacks Research raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Progyny from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.91.

Insider Buying and Selling at Progyny

In other Progyny news, insider Geoffrey Clapp sold 1,530 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the transaction, the insider owned 59,117 shares in the company, valued at approximately $1,512,212.86. This represents a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allison Swartz sold 1,199 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,124 shares of company stock valued at $155,653. 9.90% of the stock is currently owned by corporate 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.

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