Central Pacific Bank Trust Division Trims Stake in Progyny, Inc. $PGNY

Central Pacific Bank Trust Division reduced its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,802 shares of the company’s stock after selling 570 shares during the period. Central Pacific Bank Trust Division’s holdings in Progyny were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in Progyny by 7.5% during the first quarter. Millennium Management LLC now owns 1,302,890 shares of the company’s stock valued at $29,107,000 after buying an additional 90,367 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in Progyny by 85.5% during the fourth quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company’s stock valued at $20,665,000 after buying an additional 552,066 shares during the last quarter. Bank of America Corp DE increased its holdings in Progyny by 3.7% during the fourth quarter. Bank of America Corp DE now owns 952,777 shares of the company’s stock valued at $16,435,000 after buying an additional 33,668 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Progyny by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 689,443 shares of the company’s stock valued at $15,402,000 after buying an additional 51,810 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Progyny by 67.7% in the first quarter. Wellington Management Group LLP now owns 660,982 shares of the company’s stock worth $14,766,000 after purchasing an additional 266,853 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progyny

In related news, Director Kevin K. Gordon sold 2,500 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $22.04, for a total transaction of $55,100.00. Following the completion of the transaction, the director directly owned 12,501 shares of the company’s stock, valued at approximately $275,522.04. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allison Swartz sold 2,398 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the transaction, the executive vice president directly owned 79,697 shares of the company’s stock, valued at $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,895 shares of company stock valued at $179,311 over the last ninety days. 9.40% of the stock is currently owned by corporate insiders.

Progyny Stock Performance

PGNY opened at $22.51 on Monday. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 1.84 and a beta of 1.33. The company has a fifty day moving average of $23.05 and a 200 day moving average of $22.21. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $26.76.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.23). The company had revenue of $332.87 million for 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 business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, equities research analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PGNY has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Progyny from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 26th. Leerink Partners raised shares of Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research note on Tuesday, July 8th. Truist Financial increased their price objective on shares of Progyny from $24.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, July 17th. Raymond James Financial set a $28.00 price objective on shares of Progyny in a research note on Friday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective (up from $26.00) on shares of Progyny in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.30.

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.