SG Americas Securities LLC Cuts Stock Position in Progyny, Inc. $PGNY

SG Americas Securities LLC trimmed its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 75.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,904 shares of the company’s stock after selling 98,646 shares during the quarter. SG Americas Securities LLC’s holdings in Progyny were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PGNY. 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 valued at $43,933,000 after purchasing an additional 545,431 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Progyny in the 2nd quarter valued at approximately $10,525,000. Nomura Holdings Inc. acquired a new position in shares of Progyny in the second quarter worth $9,368,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Progyny by 33.1% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock worth $35,649,000 after acquiring an additional 412,395 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Progyny during the second quarter worth $4,670,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Progyny

In other news, CFO Mark S. Livingston sold 21,303 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $25.50, for a total value of $543,226.50. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter Anevski bought 79,500 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the acquisition, the chief executive officer directly 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. Over the last three months, insiders sold 22,046 shares of company stock valued at $561,691. Insiders own 9.40% of the company’s stock.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $25.45 on Thursday. The stock’s 50-day simple moving average is $25.77 and its 200-day simple moving average is $23.27. The firm has a market capitalization of $2.19 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. Progyny, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $28.75.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.39 by $0.06. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The company had revenue of $313.35 million for the quarter, compared to analyst estimates of $299.23 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. 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, sell-side analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PGNY has been the subject of a number of recent research reports. Wall Street Zen upgraded Progyny from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. BTIG Research reissued a “buy” rating on shares of Progyny in a research report on Wednesday. Canaccord Genuity Group upped their target price on shares of Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, November 17th. Finally, Barclays initiated coverage on shares of Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.36.

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.