Bank of New York Mellon Corp Lowers Holdings in Bright Horizons Family Solutions Inc (NYSE:BFAM)

Bank of New York Mellon Corp trimmed its position in Bright Horizons Family Solutions Inc (NYSE:BFAM) by 22.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,336 shares of the company’s stock after selling 69,666 shares during the period. Bank of New York Mellon Corp owned approximately 0.43% of Bright Horizons Family Solutions worth $25,357,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its stake in Bright Horizons Family Solutions by 2.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 55,030 shares of the company’s stock worth $5,642,000 after buying an additional 1,220 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Bright Horizons Family Solutions by 14.6% during the second quarter. Rhumbline Advisers now owns 62,857 shares of the company’s stock valued at $6,444,000 after purchasing an additional 8,027 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Bright Horizons Family Solutions by 1.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 272,900 shares of the company’s stock valued at $27,978,000 after purchasing an additional 5,207 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Bright Horizons Family Solutions by 162.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 280,698 shares of the company’s stock valued at $28,774,000 after purchasing an additional 173,792 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Bright Horizons Family Solutions during the second quarter valued at approximately $37,250,000. 98.99% of the stock is owned by institutional investors and hedge funds.

In related news, COO Mary Lou Burke sold 1,100 shares of Bright Horizons Family Solutions stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $118.87, for a total transaction of $130,757.00. Following the transaction, the chief operating officer now owns 30,946 shares in the company, valued at approximately $3,678,551.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roger H. Brown sold 16,958 shares of Bright Horizons Family Solutions stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $114.66, for a total transaction of $1,944,404.28. Following the completion of the sale, the director now owns 4,442 shares in the company, valued at $509,319.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,830 shares of company stock worth $5,681,504. 2.20% of the stock is owned by corporate insiders.

Shares of Bright Horizons Family Solutions stock traded up $1.63 on Friday, hitting $115.39. 279,416 shares of the company’s stock were exchanged, compared to its average volume of 244,931. The stock has a market capitalization of $6.84 billion, a PE ratio of 45.25, a P/E/G ratio of 2.69 and a beta of 0.14. Bright Horizons Family Solutions Inc has a 1 year low of $84.38 and a 1 year high of $120.07. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.34 and a quick ratio of 0.34.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.02. Bright Horizons Family Solutions had a net margin of 8.77% and a return on equity of 20.90%. The business had revenue of $490.00 million for the quarter, compared to analysts’ expectations of $486.63 million. During the same quarter last year, the company posted $0.74 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts anticipate that Bright Horizons Family Solutions Inc will post 2.92 EPS for the current year.

Several brokerages recently weighed in on BFAM. Zacks Investment Research raised shares of Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. BMO Capital Markets raised their target price on shares of Bright Horizons Family Solutions from $114.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, August 6th. Finally, Citigroup cut shares of Bright Horizons Family Solutions from a “buy” rating to a “neutral” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $104.91.

Bright Horizons Family Solutions Profile

Bright Horizons Family Solutions Inc provides child care and early education, back-up dependent care, and educational advisory services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Dependent Care, and Other Educational Advisory Services.

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Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

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