Jupiter Asset Management Ltd. Buys New Position in Progyny, Inc. $PGNY

Jupiter Asset Management Ltd. bought a new position in Progyny, Inc. (NASDAQ:PGNY) in the second quarter, according to its most recent filing with the SEC. The firm bought 478,410 shares of the company’s stock, valued at approximately $10,525,000. Jupiter Asset Management Ltd. owned approximately 0.56% of Progyny as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PGNY. Nuveen LLC purchased a new position in shares of Progyny during the first quarter worth $13,645,000. CenterBook Partners LP grew its position in Progyny by 458.2% during the 1st quarter. CenterBook Partners LP now owns 515,626 shares of the company’s stock worth $11,519,000 after purchasing an additional 423,257 shares during the period. AQR Capital Management LLC raised its stake in shares of Progyny by 1,060.7% during the 1st quarter. AQR Capital Management LLC now owns 332,386 shares of the company’s stock valued at $7,425,000 after buying an additional 303,750 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Progyny by 67.7% in the 1st quarter. Wellington Management Group LLP now owns 660,982 shares of the company’s stock valued at $14,766,000 after buying an additional 266,853 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Progyny by 101.5% in the 2nd quarter. Acadian Asset Management LLC now owns 414,486 shares of the company’s stock valued at $9,110,000 after buying an additional 208,836 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PGNY. Canaccord Genuity Group lifted their price target on Progyny from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Progyny in a research report on Wednesday, October 8th. KeyCorp raised shares of Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Tuesday. Truist Financial boosted their target price on shares of Progyny from $24.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Progyny Trading Up 1.5%

PGNY opened at $24.42 on Friday. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $26.76. The firm has a market capitalization of $2.11 billion, a PE ratio of 38.76, a PEG ratio of 2.05 and a beta of 1.29. The firm’s 50-day moving average price is $20.95 and its 200 day moving average price is $21.89.

Progyny (NASDAQ:PGNY) last issued its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The company had revenue of $313.35 million during the quarter, compared to analysts’ expectations of $299.23 million. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. As a group, analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the transaction, the executive vice president directly owned 79,697 shares of the company’s stock, valued at $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 5,395 shares of company stock worth $124,211 in the last ninety days. 9.40% of the stock is currently owned by company insiders.

About Progyny

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.