SG Americas Securities LLC Boosts Stake in Progyny, Inc. $PGNY

SG Americas Securities LLC raised its position in Progyny, Inc. (NASDAQ:PGNY) by 1,589.8% during the second quarter, Holdings Channel reports. The fund owned 131,550 shares of the company’s stock after acquiring an additional 123,765 shares during the period. SG Americas Securities LLC’s holdings in Progyny were worth $2,894,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC bought a new stake in shares of Progyny during the 1st quarter valued at $13,645,000. Jupiter Asset Management Ltd. purchased a new position in shares of Progyny in the 2nd quarter worth $10,525,000. CenterBook Partners LP raised its position in Progyny by 458.2% during the first quarter. CenterBook Partners LP now owns 515,626 shares of the company’s stock valued at $11,519,000 after purchasing an additional 423,257 shares during the period. AQR Capital Management LLC raised its holdings in Progyny by 1,060.7% during the 1st quarter. AQR Capital Management LLC now owns 332,386 shares of the company’s stock valued at $7,425,000 after buying an additional 303,750 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Progyny by 67.7% in the 1st quarter. Wellington Management Group LLP now owns 660,982 shares of the company’s stock worth $14,766,000 after acquiring an additional 266,853 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PGNY has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Progyny in a report on Wednesday, October 8th. Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. KeyCorp upgraded Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 price target for the company in a research note on Tuesday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price objective (up from $26.00) on shares of Progyny in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Progyny from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Progyny has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

Insider Buying and Selling at Progyny

In related news, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total value of $55,058.08. Following the sale, the executive vice president directly owned 79,697 shares in the company, valued at $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Anevski purchased 79,500 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price 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 trade represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 5,395 shares of company stock valued at $124,211. Company insiders own 9.40% of the company’s stock.

Progyny Stock Down 3.6%

Shares of PGNY opened at $25.85 on Wednesday. The stock has a fifty day simple moving average of $21.13 and a two-hundred day simple moving average of $21.94. Progyny, Inc. has a 52-week low of $13.50 and a 52-week high of $27.25. The company has a market capitalization of $2.23 billion, a PE ratio of 41.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.29.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.39 by $0.06. The firm had revenue of $313.35 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. As a group, equities analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Progyny 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.