Principal Financial Group Inc. Sells 419,185 Shares of Progyny, Inc. (NASDAQ:PGNY)

Principal Financial Group Inc. lessened its holdings in Progyny, Inc. (NASDAQ:PGNY) by 47.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 458,580 shares of the company’s stock after selling 419,185 shares during the period. Principal Financial Group Inc. owned 0.54% of Progyny worth $7,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after purchasing an additional 1,246 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Progyny by 108.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock valued at $51,000 after buying an additional 1,526 shares in the last quarter. Caitlin John LLC raised its position in shares of Progyny by 2,974.8% during the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after buying an additional 3,183 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Progyny in the third quarter worth $77,000. Finally, KBC Group NV boosted its position in shares of Progyny by 84.6% during the fourth quarter. KBC Group NV now owns 4,669 shares of the company’s stock worth $81,000 after acquiring an additional 2,140 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

Progyny Stock Performance

NASDAQ PGNY opened at $22.53 on Friday. The business’s 50 day moving average price is $20.68 and its 200-day moving average price is $18.67. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $38.98. The company has a market cap of $1.92 billion, a P/E ratio of 38.85, a P/E/G ratio of 2.39 and a beta of 1.34.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Truist Financial reaffirmed a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Barclays decreased their target price on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Canaccord Genuity Group raised their price target on Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a report on Friday. Finally, Bank of America upped their price objective on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.82.

Progyny Company 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.