First Trust Advisors LP Has $6.60 Million Stock Position in Progyny, Inc. $PGNY

First Trust Advisors LP grew its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 388,924 shares of the company's stock after purchasing an additional 80,743 shares during the period. First Trust Advisors LP owned approximately 0.50% of Progyny worth $6,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Progyny by 260.9% during the fourth quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company's stock valued at $57,607,000 after acquiring an additional 1,621,688 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of 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 last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Progyny during the 4th quarter worth about $19,917,000. Ameriprise Financial Inc. increased its position in shares of Progyny by 37.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company's stock worth $43,933,000 after purchasing an additional 545,431 shares in the last quarter. Finally, Norges Bank bought a new position in Progyny during the 4th quarter valued at about $10,167,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progyny

In related news, CFO Mark S. Livingston sold 8,275 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total value of $211,012.50. Following the completion of the transaction, the chief financial officer directly owned 79,063 shares of the company's stock, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Scott sold 7,439 shares of Progyny stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.39, for a total value of $196,315.21. Following the transaction, the director owned 19,772 shares of the company's stock, valued at $521,783.08. The trade was a 27.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 36,916 shares of company stock valued at $939,875. 9.90% of the stock is owned by insiders.

Progyny Stock Performance

PGNY opened at $31.13 on Monday. The firm's fifty day moving average is $28.55 and its two-hundred day moving average is $23.22. The firm has a market cap of $2.44 billion, a PE ratio of 40.43, a price-to-earnings-growth ratio of 2.47 and a beta of 1.01. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.24. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The firm had revenue of $328.50 million for the quarter, compared to the consensus estimate of $326.46 million. During the same quarter last year, the business posted $0.17 EPS. The company's revenue for the quarter was down 26.4% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Equities analysts forecast that Progyny, Inc. will post 1.19 EPS for the current fiscal year.

Progyny declared that its board has authorized a stock buyback plan on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PGNY. Barclays reissued an "equal weight" rating and issued a $34.00 target price (up from $27.00) on shares of Progyny in a report on Tuesday, July 28th. Zacks Research upgraded Progyny from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 8th. Canaccord Genuity Group boosted their price objective on Progyny from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Bank of America increased their target price on Progyny from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Finally, Citizens Jmp lifted their price target on Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a report on Monday, May 11th. One equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.25.

Progyny 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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