Legal & General Group Plc Invests $4.67 Million in Progyny, Inc. $PGNY

Key Points

• Legal & General Group Plc acquired 162,043 Progyny shares valued at approximately $4.67 million, while institutional investors collectively own 94.93% of the company.
• Progyny exceeded quarterly earnings expectations, reporting $0.55 EPS versus the $0.33 consensus estimate and $350.51 million in revenue, up 5.3% year over year.
• The company authorized a $200 million share buyback, covering up to 10.3% of outstanding shares; analysts maintain a “Moderate Buy” consensus with an average price target of $33.91.

Legal & General Group Plc purchased a new stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 162,043 shares of the company's stock, valued at approximately $4,672,000. Legal & General Group Plc owned about 0.21% of Progyny as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Progyny in the second quarter valued at about $334,426,000. Wellington Management Group LLP grew 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 worth $57,607,000 after purchasing an additional 1,621,688 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Progyny by 46.9% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company's stock valued at $45,734,000 after buying an additional 859,289 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of Progyny in the fourth quarter valued at approximately $19,917,000. Finally, William Blair Investment Management LLC bought a new position in Progyny in the 2nd quarter valued at approximately $16,807,000. Institutional investors own 94.93% of the company's stock.

Progyny Price Performance

Shares of PGNY stock opened at $26.61 on Friday. The stock has a market capitalization of $2.04 billion, a PE ratio of 28.92, a PEG ratio of 1.81 and a beta of 0.99. The business's 50 day simple moving average is $29.02 and its 200 day simple moving average is $23.78. Progyny, Inc. has a one year low of $16.10 and a one year high of $33.06.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. The firm had revenue of $350.51 million during the quarter, compared to analyst estimates of $349.05 million. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. As a group, research analysts expect that Progyny, Inc. will post 1.25 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PGNY shares. Leerink Partners set a $38.00 target price on shares of Progyny in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Progyny from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday. Wells Fargo & Company began coverage on shares of Progyny in a report on Thursday, August 20th. They set an "overweight" rating and a $37.00 price target on the stock. Zacks Research raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Finally, KeyCorp increased their price objective on Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.91.

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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