Principal Financial Group Inc. Has $15.16 Million Stock Position in Progyny, Inc. $PGNY

Principal Financial Group Inc. boosted its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 57.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 704,267 shares of the company’s stock after acquiring an additional 256,078 shares during the quarter. Principal Financial Group Inc.’s holdings in Progyny were worth $15,156,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PGNY. Cetera Trust Company N.A boosted its holdings 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 purchasing an additional 985 shares during the period. Federated Hermes Inc. lifted its position in Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock worth $30,000 after buying an additional 819 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Progyny by 61.8% during the 3rd quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock valued at $50,000 after acquiring an additional 894 shares in the last quarter. Covestor Ltd grew its holdings in shares of Progyny by 164.9% during the 3rd quarter. Covestor Ltd now owns 2,609 shares of the company’s stock valued at $56,000 after acquiring an additional 1,624 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Progyny in the second quarter worth $77,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Stock Down 1.4%

Shares of Progyny stock opened at $21.65 on Tuesday. Progyny, Inc. has a 12-month low of $17.98 and a 12-month high of $28.75. The stock has a 50 day moving average price of $25.20 and a two-hundred day moving average price of $23.32. The stock has a market capitalization of $1.87 billion, a P/E ratio of 34.37, a PEG ratio of 1.39 and a beta of 0.96.

Analysts Set New Price Targets

A number of analysts recently issued reports on PGNY shares. BTIG Research reissued a “buy” rating on shares of Progyny in a research report on Wednesday, January 21st. Barclays began coverage on Progyny in a report on Monday, December 8th. They set an “overweight” rating and a $29.00 price target for the company. KeyCorp lifted their target price on shares of Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 20th. Finally, Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.36.

Insiders Place Their Bets

In other news, CEO Peter Anevski bought 79,500 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the acquisition, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at $16,523,296.79. The trade was a 13.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark S. Livingston sold 21,303 shares of the business’s stock in a transaction 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 transaction, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This represents a 30.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,046 shares of company stock worth $561,691 over the last quarter. 9.40% of the stock is currently owned by company 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.