Progyny, Inc. (NASDAQ:PGNY) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471,826 shares of the company's stock after purchasing an additional 13,246 shares during the quarter. Principal Financial Group Inc. owned approximately 0.55% of Progyny worth $10,541,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Barclays PLC raised its stake in Progyny by 95.7% in the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company's stock valued at $23,843,000 after buying an additional 676,048 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Progyny in the fourth quarter valued at about $11,265,000. BNP Paribas Financial Markets purchased a new stake in Progyny in the fourth quarter valued at about $10,557,000. First Sabrepoint Capital Management LP purchased a new stake in Progyny in the fourth quarter valued at about $9,660,000. Finally, Voloridge Investment Management LLC raised its stake in Progyny by 85.5% in the fourth quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock valued at $20,665,000 after buying an additional 552,066 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Progyny Price Performance

NASDAQ:PGNY traded down $0.01 during trading hours on Thursday, reaching $23.01. The company had a trading volume of 1,106,815 shares, compared to its average volume of 1,717,425. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $29.78. The firm has a market cap of $1.97 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 2.37 and a beta of 1.31. The business's 50 day moving average price is $21.79 and its 200-day moving average price is $21.73.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.28). Progyny had a net margin of 4.33% and a return on equity of 10.90%. The company had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The company's revenue was up 16.5% compared to the same quarter last year. On average, analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Progyny news, Director Cheryl Scott sold 2,675 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the sale, the director directly owned 14,112 shares of the company's stock, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PGNY shares. Truist Financial set a $27.00 price target on Progyny and gave the company a "hold" rating in a research note on Thursday. Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target for the company in a research note on Tuesday, July 8th. Leerink Partnrs upgraded Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. BTIG Research upgraded Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective for the company in a research note on Monday, March 31st. Finally, Canaccord Genuity Group reduced their price objective on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Progyny currently has a consensus rating of "Moderate Buy" and an average target price of $24.82.

Progyny Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.