Legal & General Group Plc Makes New $4.67 Million Investment in Progyny, Inc. $PGNY

Legal & General Group Plc purchased a new stake in Progyny, Inc. (NASDAQ:PGNY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 162,043 shares of the company’s stock, valued at approximately $4,672,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Easterly Investment Partners LLC boosted its stake in Progyny by 197.4% during the fourth quarter. Easterly Investment Partners LLC now owns 146,013 shares of the company’s stock worth $3,750,000 after acquiring an additional 96,912 shares in the last quarter. Bank of America Corp DE increased its stake in Progyny by 75.3% in the first quarter. Bank of America Corp DE now owns 1,190,996 shares of the company’s stock valued at $20,223,000 after purchasing an additional 511,609 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Progyny by 40.2% in the fourth quarter. First Eagle Investment Management LLC now owns 212,612 shares of the company’s stock valued at $5,460,000 after purchasing an additional 60,912 shares in the last quarter. CenterBook Partners LP raised its holdings in shares of Progyny by 36.2% during the fourth quarter. CenterBook Partners LP now owns 578,171 shares of the company’s stock valued at $14,847,000 after purchasing an additional 153,778 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Progyny during the 1st quarter worth about $1,811,000. 94.93% of the stock is currently owned by institutional investors.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $26.61 on Friday. Progyny, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $33.06. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.81 and a beta of 0.99. The firm’s 50-day simple moving average is $29.02 and its 200 day simple moving average is $23.78.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. The firm had revenue of $350.51 million during the quarter, compared to analyst estimates of $349.05 million. Progyny had a return on equity of 15.98% and a net margin of 6.00%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. On average, sell-side analysts predict that Progyny, Inc. will post 1.25 EPS for the current year.

Progyny declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

PGNY has been the subject of several research reports. BTIG Research raised their target price on Progyny from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Canaccord Genuity Group set a $35.00 price target on Progyny in a report on Friday, August 7th. Bank of America raised their price objective on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings cut Progyny from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Progyny currently has an average rating of “Moderate Buy” and an average target price of $33.91.

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.