Progyny, Inc. $PGNY Shares Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC significantly increased its stake in Progyny, Inc. by purchasing an additional 61,416 shares, raising its total ownership by 175.0% to approximately 96,511 shares valued at $2.16 million.
• Several institutional investors, including Wells Fargo and Stifel Financial Corp, also expanded their positions in Progyny during the fourth quarter, indicating strong interest in the company among hedge funds.
• Despite reporting a miss on earnings with $0.19 EPS against expectations of $0.42, Progyny's revenue was up 9.5% year-over-year, totaling $332.87 million, surpassing estimates of $315.70 million.

Hsbc Holdings PLC lifted its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 175.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,511 shares of the company's stock after purchasing an additional 61,416 shares during the quarter. Hsbc Holdings PLC owned 0.11% of Progyny worth $2,158,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PGNY. Wells Fargo & Company MN lifted its position in shares of Progyny by 37.8% during the 4th quarter. Wells Fargo & Company MN now owns 39,593 shares of the company's stock valued at $683,000 after buying an additional 10,856 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Progyny by 13.1% during the 4th quarter. First Trust Advisors LP now owns 24,105 shares of the company's stock valued at $416,000 after buying an additional 2,794 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Progyny by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,027 shares of the company's stock valued at $20,458,000 after buying an additional 74,740 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Progyny by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 51,891 shares of the company's stock valued at $895,000 after buying an additional 3,085 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Progyny by 48.5% during the 4th quarter. Stifel Financial Corp now owns 71,736 shares of the company's stock valued at $1,237,000 after buying an additional 23,425 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company's stock.

Insiders Place Their Bets

In other Progyny news, EVP Allison Swartz sold 2,398 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president directly owned 79,697 shares of the company's stock, valued at $1,829,843.12. This trade represents a 2.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cheryl Scott sold 2,675 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the sale, the director directly owned 14,112 shares of the company's stock, valued at $311,451.84. This trade represents a 15.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,971 shares of company stock valued at $224,253 in the last three months. 9.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PGNY. Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Leerink Partnrs upgraded Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 target price (up previously from $26.00) on shares of Progyny in a research report on Friday, August 8th. Finally, Canaccord Genuity Group raised their price objective on Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Progyny has a consensus rating of "Moderate Buy" and an average target price of $25.30.

Progyny Trading Down 1.1%

PGNY stock traded down $0.26 during midday trading on Tuesday, reaching $23.41. The stock had a trading volume of 740,568 shares, compared to its average volume of 1,112,370. The company's fifty day simple moving average is $22.83 and its 200 day simple moving average is $22.22. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 39.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.33. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). The firm had revenue of $332.87 million during the quarter, compared to analysts' expectations of $315.70 million. Progyny had a net margin of 4.28% and a return on equity of 10.69%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. Sell-side analysts predict that Progyny, Inc. will post 0.6 EPS for the current 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.