Fort Washington Investment Advisors Inc. OH Grows Holdings in Progyny, Inc. $PGNY

Key Points

• Fort Washington Investment Advisors increased its Progyny stake by 46.9% in the first quarter, buying 859,289 additional shares and ending with 2.69 million shares worth about $45.7 million.
• Progyny reported better-than-expected quarterly earnings of $0.50 per share versus estimates of $0.26, though revenue still fell 26.4% year over year to $328.5 million.
• The company announced a $200 million share buyback program, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $29.92.

Fort Washington Investment Advisors Inc. OH grew its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 46.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,693,393 shares of the company's stock after purchasing an additional 859,289 shares during the period. Fort Washington Investment Advisors Inc. OH owned 3.44% of Progyny worth $45,734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC boosted its position in Progyny by 336.0% during the third quarter. Intech Investment Management LLC now owns 169,834 shares of the company's stock worth $3,655,000 after acquiring an additional 130,885 shares during the last quarter. Vanguard Group Inc. raised its holdings in Progyny by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,106,147 shares of the company's stock valued at $217,484,000 after acquiring an additional 235,513 shares during the last quarter. Algert Global LLC raised its holdings in Progyny by 35.1% in the 3rd quarter. Algert Global LLC now owns 595,805 shares of the company's stock valued at $12,822,000 after acquiring an additional 154,930 shares during the last quarter. Barclays PLC lifted its stake in shares of Progyny by 79.2% during the 3rd quarter. Barclays PLC now owns 1,575,470 shares of the company's stock worth $33,904,000 after purchasing an additional 696,447 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Progyny by 555.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 97,557 shares of the company's stock worth $2,100,000 after purchasing an additional 82,682 shares during the period. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total transaction of $39,137.40. Following the completion of the sale, the insider owned 59,117 shares of the company's stock, valued at approximately $1,512,212.86. This represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin K. Gordon sold 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total transaction of $137,445.00. Following the completion of the transaction, the director owned 9,318 shares in the company, valued at $232,856.82. The trade was a 37.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 36,916 shares of company stock worth $939,875. Corporate insiders own 9.90% of the company's stock.

Analysts Set New Price Targets

PGNY has been the subject of a number of recent analyst reports. KeyCorp lowered their price objective on Progyny from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, March 2nd. Citigroup reiterated an "outperform" rating on shares of Progyny in a research report on Monday, May 11th. Barclays raised their price target on Progyny from $23.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, May 15th. Zacks Research cut Progyny from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $30.00 price objective on shares of Progyny in a research note on Friday, March 6th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.92.

Progyny Stock Up 4.1%

PGNY stock opened at $28.51 on Friday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 2.52 and a beta of 1.03. The business has a fifty day simple moving average of $23.45 and a 200-day simple moving average of $22.39. Progyny, Inc. has a 52 week low of $16.10 and a 52 week high of $28.75.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping 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 business had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.46 million. During the same period last year, the company posted $0.17 EPS. The business's quarterly revenue 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. As a group, analysts expect that Progyny, Inc. will post 1.07 earnings per share for the current fiscal year.

Progyny announced that its board has initiated a stock repurchase program on Tuesday, May 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

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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