Jefferies Financial Group Inc. Takes Position in Progyny, Inc. $PGNY

Key Points

• Jefferies Financial Group acquired 61,015 Progyny shares valued at approximately $1.76 million, giving it a 0.08% stake. Institutional investors collectively own 94.93% of PGNY.
• Progyny reported quarterly EPS of $0.55, exceeding estimates of $0.33, while revenue rose 5.3% year over year to $350.51 million. The company also authorized a $200 million share buyback, representing up to 10.3% of outstanding shares.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $33.91, above the stock’s reported $26.00 price. However, insiders sold 13,563 shares worth approximately $352,000 over the past three months.

Jefferies Financial Group Inc. acquired a new stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 61,015 shares of the company's stock, valued at approximately $1,759,000. Jefferies Financial Group Inc. owned approximately 0.08% of Progyny as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGNY. Caitong International Asset Management Co. Ltd bought a new stake in shares of Progyny in the fourth quarter worth about $25,000. Public Employees Retirement System of Ohio bought a new position in shares of Progyny during the 2nd quarter valued at about $29,000. Hantz Financial Services Inc. lifted its holdings in shares of Progyny by 79.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock valued at $43,000 after purchasing an additional 742 shares in the last quarter. Quarry LP grew its position in shares of Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock valued at $77,000 after purchasing an additional 3,427 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Progyny in the 2nd quarter valued at approximately $77,000. 94.93% of the stock is currently owned by institutional investors.

Progyny Stock Performance

NASDAQ PGNY opened at $26.00 on Friday. Progyny, Inc. has a 52 week low of $16.10 and a 52 week high of $33.06. The stock's 50 day moving average price is $29.08 and its two-hundred day moving average price is $23.63. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 1.79 and a beta of 1.01.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $349.05 million. During the same period last year, the business earned $0.19 EPS. The business'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. On average, equities research analysts forecast that Progyny, Inc. will post 1.25 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PGNY shares. Citizens Jmp lifted their price target on shares of Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a research note on Monday, May 11th. Citigroup reissued an "outperform" rating on shares of Progyny in a research report on Monday, May 11th. Wells Fargo & Company assumed coverage on shares of Progyny in a report on Thursday, August 20th. They set an "overweight" rating and a $37.00 price objective on the stock. Bank of America boosted their price objective on shares of Progyny from $29.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Finally, BTIG Research upped their target price on shares of Progyny from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.91.

Insider Buying and Selling at Progyny

In other Progyny news, Director Cheryl Scott sold 7,439 shares of Progyny stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.39, for a total value of $196,315.21. Following the sale, the director directly owned 19,772 shares in the company, valued at approximately $521,783.08. The trade was a 27.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geoffrey Clapp sold 1,530 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the sale, the insider directly owned 59,117 shares in the company, valued at $1,512,212.86. This trade represents a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,563 shares of company stock worth $351,968 in the last three months. 9.90% of the stock is currently owned by company 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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