Principal Financial Group Inc. Purchases 78,198 Shares of Progyny, Inc. $PGNY

Key Points

• Principal Financial Group increased its stake in Progyny by 16.4% in the first quarter, buying 78,198 additional shares and bringing its total holding to 554,916 shares valued at about $9.42 million.
• Several other institutional investors also boosted their positions, and 94.93% of Progyny’s stock is owned by institutions, highlighting strong institutional ownership.
• Analysts remain generally positive on the stock, with a consensus “Moderate Buy” rating and average price target of $32.67, while Progyny also reported better-than-expected quarterly EPS and authorized a $200 million share buyback.

Principal Financial Group Inc. raised its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 554,916 shares of the company's stock after purchasing an additional 78,198 shares during the quarter. Principal Financial Group Inc. owned 0.71% of Progyny worth $9,422,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its stake in shares of Progyny by 1.5% in the fourth quarter. State Street Corp now owns 2,953,186 shares of the company's stock worth $75,838,000 after purchasing an additional 44,642 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Progyny by 46.9% during the 1st 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 in the last quarter. Wellington Management Group LLP boosted its holdings 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 buying an additional 1,621,688 shares during the period. Ameriprise Financial Inc. boosted its holdings in Progyny by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company's stock worth $43,933,000 after buying an additional 545,431 shares during the period. Finally, Geode Capital Management LLC increased its stake in Progyny by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,972,219 shares of the company's stock worth $50,655,000 after buying an additional 20,533 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. KeyCorp raised their price target on Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Citizens Jmp increased their target price on Progyny from $30.00 to $31.00 and gave the stock a "market outperform" rating in a research report on Monday, May 11th. Leerink Partners set a $38.00 target price on Progyny in a research note on Wednesday. Truist Financial lifted their target price on Progyny from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Wall Street Zen cut Progyny from a "strong-buy" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

Progyny Stock Up 1.6%

Progyny stock opened at $31.19 on Friday. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $33.06. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.47 and a beta of 1.01. The firm's fifty day moving average is $27.90 and its 200 day moving average is $23.11.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its 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 net margin of 5.23% and a return on equity of 13.34%. The firm had revenue of $328.50 million for the quarter, compared to analysts' expectations of $326.46 million. During the same period in the prior year, the company earned $0.17 EPS. The business's revenue was down 26.4% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. On average, equities research analysts anticipate that Progyny, Inc. will post 1.19 earnings per share for the current fiscal year.

Progyny announced that its board has initiated a stock buyback program on Tuesday, May 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Insider Transactions at Progyny

In other news, insider Geoffrey Clapp sold 1,530 shares of the business'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 of the company's stock, valued at approximately $1,512,212.86. The trade was a 2.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total value of $137,445.00. Following the sale, 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. In the last quarter, insiders have sold 36,916 shares of company stock worth $939,875. 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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