MetLife Investment Management LLC Sells 8,056 Shares of Progyny, Inc. $PGNY

MetLife Investment Management LLC lessened its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,835 shares of the company’s stock after selling 8,056 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Progyny worth $979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Progyny during the 1st quarter worth approximately $44,000. Brooklyn Investment Group lifted its position in shares of Progyny by 5,216.4% during the 1st quarter. Brooklyn Investment Group now owns 3,243 shares of the company’s stock worth $72,000 after buying an additional 3,182 shares during the period. GAMMA Investing LLC lifted its position in shares of Progyny by 233.9% during the 1st quarter. GAMMA Investing LLC now owns 5,379 shares of the company’s stock worth $120,000 after buying an additional 3,768 shares during the period. AlphaQuest LLC lifted its position in shares of Progyny by 57.9% during the 1st quarter. AlphaQuest LLC now owns 5,668 shares of the company’s stock worth $127,000 after buying an additional 2,079 shares during the period. Finally, Sei Investments Co. acquired a new stake in Progyny during the 1st quarter valued at $228,000. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

NASDAQ PGNY opened at $22.55 on Friday. The stock has a fifty day moving average of $22.94 and a 200-day moving average of $22.24. The stock has a market capitalization of $1.94 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 1.93 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) last released its earnings results on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). The firm had revenue of $332.87 million during the quarter, compared to analyst estimates of $315.70 million. Progyny had a net margin of 4.28% and a return on equity of 10.69%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last 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. Equities research analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total transaction 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. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cheryl Scott sold 2,675 shares of Progyny 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 sale, the director directly owned 14,112 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 10,570 shares of company stock valued at $238,348. Company insiders own 9.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price target on Progyny from $24.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Raymond James Financial set a $28.00 price target on Progyny in a report on Friday, August 8th. Leerink Partners raised Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a report on Tuesday, July 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target (up from $26.00) on shares of Progyny in a report on Friday, August 8th. Finally, Canaccord Genuity Group raised their price target on Progyny from $21.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 20th. One investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.30.

About Progyny

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.