Principal Financial Group Inc. increased its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 82.3% during the first quarter, Holdings Channel reports. The institutional investor owned 396,691 shares of the company’s stock after acquiring an additional 179,059 shares during the period. Principal Financial Group Inc.’s holdings in Bread Financial were worth $29,708,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Bread Financial during the 4th quarter valued at approximately $28,000. Cullen Frost Bankers Inc. purchased a new position in Bread Financial in the 4th quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. raised its holdings in Bread Financial by 141.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 562 shares of the company’s stock worth $31,000 after purchasing an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Bread Financial by 127.2% during the second quarter. EverSource Wealth Advisors LLC now owns 711 shares of the company’s stock worth $41,000 after purchasing an additional 398 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in Bread Financial during the fourth quarter worth $56,000. 99.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on BFH. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Bread Financial in a research report on Wednesday, June 10th. Weiss Ratings raised shares of Bread Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. The Goldman Sachs Group raised their target price on shares of Bread Financial from $94.00 to $108.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Evercore restated an “outperform” rating and set a $116.00 target price on shares of Bread Financial in a research report on Monday, July 6th. Finally, BTIG Research upped their price target on shares of Bread Financial from $105.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $107.92.
Insider Transactions at Bread Financial
In related news, Director Roger H. Ballou sold 9,687 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $90.32, for a total value of $874,929.84. Following the completion of the transaction, the director directly owned 30,079 shares in the company, valued at approximately $2,716,735.28. This represents a 24.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph J. Andretta sold 15,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $89.10, for a total value of $1,336,500.00. Following the transaction, the chief executive officer owned 582,241 shares in the company, valued at $51,877,673.10. This trade represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.
Bread Financial Stock Performance
Shares of NYSE BFH opened at $99.33 on Monday. The company has a 50-day simple moving average of $95.66 and a 200-day simple moving average of $83.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $4.01 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 0.88 and a beta of 1.10. Bread Financial Holdings, Inc. has a 12 month low of $53.83 and a 12 month high of $109.91.
Bread Financial (NYSE:BFH – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $1.18. Bread Financial had a net margin of 11.90% and a return on equity of 18.79%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $992.05 million. During the same quarter in the prior year, the firm posted $2.86 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Bread Financial Holdings, Inc. will post 10.98 earnings per share for the current year.
Bread Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Bread Financial’s dividend payout ratio is currently 7.53%.
Bread Financial Company Profile
Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.
In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.
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