The Manufacturers Life Insurance Company Makes New $946,000 Investment in Progyny, Inc. $PGNY

The Manufacturers Life Insurance Company acquired a new position in shares of Progyny, Inc. (NASDAQ:PGNY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 32,829 shares of the company’s stock, valued at approximately $946,000.

Several other hedge funds also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in Progyny during the fourth quarter worth $25,000. Hantz Financial Services Inc. grew its holdings in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after purchasing an additional 742 shares during the period. Quarry LP increased its stake in Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after purchasing an additional 3,427 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Progyny in the second quarter valued at $77,000. Finally, New Age Alpha Advisors LLC bought a new stake in Progyny in the fourth quarter valued at $94,000. Institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PGNY. JPMorgan Chase & Co. increased their price objective on shares of Progyny from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Bank of America boosted their target price on Progyny from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Barclays dropped their price target on Progyny from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Wall Street Zen lowered Progyny from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Wells Fargo & Company began coverage on Progyny in a report on Thursday, August 20th. They issued 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 company’s stock. According to data from MarketBeat.com, Progyny has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Progyny Trading Down 2.5%

Progyny stock opened at $25.94 on Friday. 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 $1.99 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The firm’s fifty day moving average price is $28.97 and its two-hundred day moving average price is $23.79.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, August 6th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The company had revenue of $350.51 million during the quarter, compared to the consensus estimate of $349.05 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. 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, research analysts forecast that Progyny, Inc. will post 1.25 EPS for the current year.

Progyny announced that its Board of Directors has approved a share repurchase program on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Progyny Company 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.