Principal Financial Group Inc. Has $7.91 Million Holdings in Progyny, Inc. (NASDAQ:PGNY)

Principal Financial Group Inc. reduced its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 47.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,580 shares of the company's stock after selling 419,185 shares during the period. Principal Financial Group Inc. owned about 0.54% of Progyny worth $7,911,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PGNY. Louisiana State Employees Retirement System lifted its position in Progyny by 62.4% in the 3rd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the company's stock valued at $637,000 after purchasing an additional 14,600 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Progyny by 397.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 44,819 shares of the company's stock valued at $751,000 after purchasing an additional 35,813 shares during the last quarter. F M Investments LLC raised its position in shares of Progyny by 58.7% during the 3rd quarter. F M Investments LLC now owns 18,078 shares of the company's stock worth $303,000 after buying an additional 6,684 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Progyny during the 3rd quarter worth about $126,000. Finally, Olympiad Research LP bought a new stake in shares of Progyny during the 3rd quarter worth about $253,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progyny

In other Progyny news, CEO Peter Anevski bought 209,500 shares of the business's stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the transaction, the chief executive officer now owns 441,463 shares in the company, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David J. Schlanger bought 150,000 shares of the business's stock in a transaction on Thursday, December 26th. The shares were acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

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Progyny Price Performance

Shares of PGNY traded up $0.13 during trading hours on Wednesday, hitting $21.69. The stock had a trading volume of 1,920,075 shares, compared to its average volume of 1,563,490. The company's fifty day moving average is $21.11 and its two-hundred day moving average is $18.69. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $38.98. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 37.40, a P/E/G ratio of 2.39 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Canaccord Genuity Group boosted their price target on shares of Progyny from $17.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial reiterated a "hold" rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Bank of America boosted their target price on shares of Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Barclays dropped their target price on shares of Progyny from $30.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $24.82.

Progyny Company Profile

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.