Royal Bank of Canada trimmed its position in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,333 shares of the company’s stock after selling 2,311 shares during the quarter. Royal Bank of Canada owned about 0.28% of Bright Horizons Family Solutions worth $12,766,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BFAM. BlackRock Inc. increased its holdings in shares of Bright Horizons Family Solutions by 73,144.9% in the first quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock worth $198,843,000 after purchasing an additional 2,739,278 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Bright Horizons Family Solutions by 3,798.6% in the second quarter. JPMorgan Chase & Co. now owns 692,158 shares of the company’s stock worth $53,441,000 after purchasing an additional 674,404 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Bright Horizons Family Solutions by 108.4% in the second quarter. Neuberger Berman Group LLC now owns 1,153,425 shares of the company’s stock worth $89,056,000 after purchasing an additional 599,907 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Bright Horizons Family Solutions by 11.8% in the second quarter. Vanguard Group Inc. now owns 3,888,575 shares of the company’s stock worth $300,237,000 after purchasing an additional 410,335 shares during the last quarter. Finally, Laurion Capital Management LP bought a new stake in shares of Bright Horizons Family Solutions in the second quarter worth about $17,171,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bright Horizons Family Solutions Inc. (NYSE BFAM) opened at 85.15 on Friday. The firm’s 50-day moving average price is $82.55 and its 200 day moving average price is $78.28. The company has a market capitalization of $5.04 billion, a PE ratio of 45.44 and a beta of 0.14. Bright Horizons Family Solutions Inc. has a 52 week low of $59.00 and a 52 week high of $88.13.

Bright Horizons Family Solutions (NYSE:BFAM) last released its earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.03. Bright Horizons Family Solutions had a net margin of 6.91% and a return on equity of 19.19%. The business had revenue of $445.55 million for the quarter, compared to analyst estimates of $443.90 million. During the same period last year, the company posted $0.61 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Equities analysts predict that Bright Horizons Family Solutions Inc. will post $2.64 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/10/15/royal-bank-of-canada-trims-stake-in-bright-horizons-family-solutions-inc-bfam.html.

In other news, Director Mary Ann Tocio sold 6,666 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $79.11, for a total transaction of $527,347.26. Following the completion of the sale, the director now owns 67,284 shares in the company, valued at approximately $5,322,837.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elizabeth J. Boland sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $82.33, for a total transaction of $823,300.00. Following the sale, the chief financial officer now owns 150,717 shares of the company’s stock, valued at approximately $12,408,530.61. The disclosure for this sale can be found here. Insiders sold a total of 61,763 shares of company stock worth $4,920,470 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Several brokerages have recently issued reports on BFAM. BidaskClub cut Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 10th. Barclays PLC lifted their target price on Bright Horizons Family Solutions from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, October 2nd. Zacks Investment Research raised Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, August 4th. Royal Bank Of Canada reissued a “buy” rating on shares of Bright Horizons Family Solutions in a research note on Wednesday, August 9th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $85.00 price objective (up from $83.00) on shares of Bright Horizons Family Solutions in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $85.83.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

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

Receive News & Ratings for Bright Horizons Family Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bright Horizons Family Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.