Man Group plc Makes New Investment in Progyny, Inc. $PGNY

Man Group plc bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,357 shares of the company’s stock, valued at approximately $1,019,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PGNY. BlackRock Inc. acquired a new stake in shares of Progyny during the second quarter worth about $334,426,000. State Street Corp raised its stake in Progyny by 1.5% during the 4th quarter. State Street Corp now owns 2,953,186 shares of the company’s stock valued at $75,838,000 after acquiring an additional 44,642 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Progyny by 46.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock worth $45,734,000 after acquiring an additional 859,289 shares during the period. Wellington Management Group LLP lifted its position in Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock worth $57,607,000 after acquiring an additional 1,621,688 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Progyny by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock valued at $43,933,000 after purchasing an additional 545,431 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PGNY shares. Weiss Ratings lowered Progyny from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Barclays lowered their price objective on shares of Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Canaccord Genuity Group set a $35.00 price objective on shares of Progyny in a research report on Friday, August 7th. Citigroup restated a “market outperform” rating on shares of Progyny in a research note on Wednesday. Finally, Wells Fargo & Company began coverage on shares of Progyny in a research note on Thursday, August 20th. They set an “overweight” rating and a $37.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Progyny has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

Progyny Price Performance

Shares of PGNY stock opened at $26.29 on Thursday. The business’s fifty day moving average price is $29.03 and its 200 day moving average price is $23.74. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $33.06. The firm has a market capitalization of $2.02 billion, a PE ratio of 28.58, a P/E/G ratio of 1.77 and a beta of 0.99.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The firm had revenue of $350.51 million during the quarter, compared to analysts’ expectations of $349.05 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Progyny’s revenue was up 5.3% compared to the same quarter last year. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Equities research analysts expect that Progyny, Inc. will post 1.25 earnings per share for the current fiscal year.

Progyny announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.