Progyny, Inc. $PGNY Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 8,354.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 58,249 shares of the company’s stock after purchasing an additional 57,560 shares during the quarter. Fifth Third Bancorp’s holdings in Progyny were worth $989,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings 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 in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Progyny by 46.9% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company’s stock valued at $45,734,000 after purchasing an additional 859,289 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Progyny by 260.9% in the fourth quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company’s stock valued at $57,607,000 after purchasing an additional 1,621,688 shares during the last quarter. Ameriprise Financial Inc. grew its position 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 valued at $43,933,000 after purchasing an additional 545,431 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Progyny by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,972,219 shares of the company’s stock worth $50,655,000 after purchasing an additional 20,533 shares in the last quarter. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Price Performance

NASDAQ:PGNY opened at $31.19 on Monday. The firm has a 50 day simple moving average of $27.90 and a 200-day simple moving average of $23.08. The firm has a market cap of $2.44 billion, a PE ratio of 40.51, a P/E/G ratio of 2.47 and a beta of 1.01. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $33.06.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The firm had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. Progyny’s revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. As a group, sell-side analysts expect that Progyny, Inc. will post 1.19 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

PGNY has been the subject of several research reports. Leerink Partners set a $38.00 price objective on Progyny in a research report on Wednesday. Citigroup reissued an “outperform” rating on shares of Progyny in a research report on Monday, May 11th. Bank of America boosted their price target on Progyny from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Truist Financial upped their price objective on Progyny from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Insider Activity at Progyny

In other news, COO Melissa B. Cummings sold 9,578 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $25.00, for a total transaction of $239,450.00. Following the sale, the chief operating officer owned 73,371 shares in the company, valued at $1,834,275. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Scott sold 7,439 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.39, for a total value of $196,315.21. Following the sale, the director owned 19,772 shares in the company, valued at $521,783.08. This trade represents a 27.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 36,916 shares of company stock worth $939,875. Company insiders own 9.90% of the company’s stock.

About Progyny

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.