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

Principal Financial Group Inc. lessened its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 35.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 877,765 shares of the company’s stock after selling 473,003 shares during the period. Principal Financial Group Inc. owned approximately 1.03% of Progyny worth $14,711,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Progyny by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 48,248 shares of the company’s stock valued at $759,000 after purchasing an additional 7,003 shares in the last quarter. Tidal Investments LLC grew its position in Progyny by 67.7% during the third quarter. Tidal Investments LLC now owns 60,722 shares of the company’s stock worth $1,018,000 after buying an additional 24,507 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Progyny by 56.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 826,726 shares of the company’s stock valued at $13,856,000 after buying an additional 298,314 shares in the last quarter. Barclays PLC lifted its position in shares of Progyny by 530.4% during the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after acquiring an additional 594,140 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Progyny during the 3rd quarter worth approximately $469,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insider Activity at Progyny

In other news, Chairman David J. Schlanger bought 150,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This trade represents a 191.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter Anevski purchased 209,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the acquisition, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This trade represents a 90.32 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Analysts Set New Price Targets

PGNY has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Leerink Partners dropped their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a research report on Tuesday, October 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 target price (down from $22.00) on shares of Progyny in a report on Monday, December 2nd. Finally, JMP Securities downgraded shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Progyny presently has an average rating of “Hold” and an average price target of $25.00.

Progyny Stock Performance

Shares of PGNY opened at $16.90 on Friday. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The stock has a fifty day moving average of $15.23 and a two-hundred day moving average of $20.46. The company has a market capitalization of $1.44 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.64 and a beta of 1.35.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share. As a group, equities research analysts forecast that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

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.