Fri Sep 20 09:05:26 UTC 2024: ## New Jersey Pension Fund Reduces Stake in Bright Horizons Family Solutions

**[City, State] – September 20, 2024** – The State of New Jersey Common Pension Fund D has reduced its stake in Bright Horizons Family Solutions Inc. (NYSE: BFAM) by 42.0% during the second quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission. The fund now owns 19,501 shares of the company’s stock, valued at $2,147,000.

This move follows a trend among several hedge funds that have also adjusted their positions in Bright Horizons in recent months. Riverview Trust Co, Whittier Trust Co. of Nevada Inc., YHB Investment Advisors Inc., Daiwa Securities Group Inc., and Principal Securities Inc. have all bought new positions or increased their stakes in the company.

Meanwhile, several brokerages have weighed in on BFAM’s stock performance. Barclays, BMO Capital Markets, JPMorgan Chase & Co., and The Goldman Sachs Group have all raised their price targets, while Morgan Stanley has lowered theirs. Overall, analysts remain divided on the company’s prospects, with one rating it a “sell,” five a “hold,” and three a “buy.”

Bright Horizons Family Solutions specializes in early education and childcare, back-up care, educational advisory, and other workplace solutions. The company recently reported strong earnings, beating analysts’ estimates for the second quarter with an EPS of $0.88. However, insider selling activity has been noted, with General Counsel John Guy Casagrande and COO Mary Lou Burke selling shares in recent months.

The stock opened at $136.50 on Friday, and currently has a market cap of $7.92 billion.

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