Progyny, Inc. $PGNY Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Progyny, Inc. (NASDAQ:PGNY) by 57.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 704,267 shares of the company’s stock after buying an additional 256,078 shares during the quarter. Principal Financial Group Inc. owned approximately 0.82% of Progyny worth $15,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Trust Company N.A boosted its position in shares of Progyny by 303.1% during the second quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock worth $29,000 after buying an additional 985 shares during the period. Federated Hermes Inc. boosted its position in Progyny by 147.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock worth $30,000 after acquiring an additional 819 shares during the period. Versant Capital Management Inc grew its stake in shares of Progyny by 61.8% in the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after purchasing an additional 894 shares in the last quarter. Covestor Ltd increased its holdings in shares of Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company’s stock valued at $56,000 after purchasing an additional 1,624 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Progyny during the second quarter valued at about $77,000. Institutional investors own 94.93% of the company’s stock.

Analysts Set New Price Targets

PGNY has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. BTIG Research reiterated a “buy” rating on shares of Progyny in a research note on Wednesday, January 21st. Canaccord Genuity Group boosted their target price on Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, November 17th. Truist Financial raised Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Thursday, January 8th. Finally, Citizens Jmp raised Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Tuesday, January 20th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.36.

Progyny Stock Down 1.4%

PGNY opened at $21.65 on Tuesday. The firm has a market cap of $1.87 billion, a PE ratio of 34.37, a P/E/G ratio of 1.39 and a beta of 0.96. The business has a fifty day simple moving average of $25.20 and a 200-day simple moving average of $23.32. Progyny, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $28.75.

Insider Activity

In other news, CEO Peter Anevski acquired 79,500 shares of Progyny stock in a transaction on Thursday, November 13th. The stock was bought at an average cost of $24.29 per share, with a total value of $1,931,055.00. Following the completion of the purchase, the chief executive officer owned 680,251 shares of the company’s stock, valued at $16,523,296.79. This represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark S. Livingston sold 21,303 shares of Progyny stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $25.50, for a total transaction of $543,226.50. Following the completion of the transaction, the chief financial officer directly owned 48,358 shares in the company, valued at approximately $1,233,129. This trade represents a 30.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,046 shares of company stock worth $561,691. Corporate insiders own 9.40% of the company’s stock.

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.