Progyny, Inc. $PGNY Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 55.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,158,310 shares of the company’s stock after selling 2,730,870 shares during the period. Thrivent Financial for Lutherans owned approximately 2.51% of Progyny worth $46,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its stake in shares of Progyny by 37.6% in the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after buying an additional 545,431 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Progyny in the 2nd quarter worth approximately $10,525,000. Nomura Holdings Inc. acquired a new stake in shares of Progyny during the 2nd quarter worth approximately $9,368,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Progyny by 33.1% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock valued at $35,649,000 after purchasing an additional 412,395 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Progyny during the 2nd quarter valued at approximately $4,670,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Progyny

In related news, CEO Peter Anevski acquired 79,500 shares of Progyny stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the acquisition, the chief executive officer owned 680,251 shares in the company, valued at approximately $16,523,296.79. This represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark S. Livingston sold 21,303 shares of Progyny stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $25.50, for a total transaction of $543,226.50. Following the sale, the chief financial officer owned 48,358 shares of the company’s stock, valued at approximately $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,046 shares of company stock valued at $561,691 over the last three months. Corporate insiders own 9.40% of the company’s stock.

Progyny Stock Up 1.4%

Shares of NASDAQ:PGNY opened at $24.20 on Tuesday. The business has a fifty day moving average of $25.61 and a two-hundred day moving average of $23.34. Progyny, Inc. has a 52-week low of $17.98 and a 52-week high of $28.75. The stock has a market cap of $2.09 billion, a P/E ratio of 38.41, a PEG ratio of 1.51 and a beta of 0.96.

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

Analysts Set New Price Targets

Several research firms recently commented on PGNY. Citigroup upgraded shares of Progyny to an “outperform” rating in a research report on Tuesday, January 20th. Canaccord Genuity Group lifted their price target on Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, November 17th. Zacks Research downgraded Progyny from a “strong-buy” rating to a “hold” rating in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Progyny in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. set a $35.00 target price on Progyny in a research note on Wednesday, January 21st. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.36.

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.