Truist Financial Corp Sells 13,213 Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Truist Financial Corp cut its position in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,755 shares of the company’s stock after selling 13,213 shares during the quarter. Truist Financial Corp owned about 0.14% of Bright Horizons Family Solutions worth $8,889,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC bought a new position in shares of Bright Horizons Family Solutions in the 1st quarter valued at about $64,735,000. CANADA LIFE ASSURANCE Co grew its holdings in Bright Horizons Family Solutions by 141.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 14,784 shares of the company’s stock worth $1,676,000 after purchasing an additional 8,666 shares during the period. M&G Plc acquired a new position in Bright Horizons Family Solutions during the first quarter worth approximately $27,467,000. Bayesian Capital Management LP bought a new stake in Bright Horizons Family Solutions in the first quarter valued at approximately $981,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bright Horizons Family Solutions by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 784,896 shares of the company’s stock valued at $86,395,000 after buying an additional 51,024 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Bright Horizons Family Solutions from $92.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, September 11th. BMO Capital Markets upped their price objective on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Barclays upped their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group increased their price target on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $129.25.

Bright Horizons Family Solutions Price Performance

Shares of Bright Horizons Family Solutions stock opened at $136.20 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 95.92 and a beta of 1.48. Bright Horizons Family Solutions Inc. has a twelve month low of $71.65 and a twelve month high of $141.90. The company has a 50-day simple moving average of $135.84 and a two-hundred day simple moving average of $118.92.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. The company had revenue of $670.10 million during the quarter, compared to the consensus estimate of $666.17 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Analysts forecast that Bright Horizons Family Solutions Inc. will post 2.98 EPS for the current year.

Insider Activity

In related news, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.65, for a total transaction of $112,520.00. Following the completion of the sale, the chief operating officer now owns 31,825 shares of the company’s stock, valued at $4,476,186.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Bright Horizons Family Solutions news, General Counsel John Guy Casagrande sold 4,235 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $129.86, for a total value of $549,957.10. Following the sale, the general counsel now owns 13,677 shares of the company’s stock, valued at approximately $1,776,095.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.65, for a total value of $112,520.00. Following the completion of the transaction, the chief operating officer now owns 31,825 shares in the company, valued at approximately $4,476,186.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,835 shares of company stock worth $3,110,788. 1.22% of the stock is currently owned by company insiders.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.