Allianz Asset Management GmbH Acquires 203,707 Shares of Bread Financial Holdings, Inc. $BFH

Key Points

• Allianz Asset Management GmbH increased its Bread Financial stake by 21.6% in the fourth quarter, buying 203,707 additional shares and bringing its total holding to 1,147,366 shares valued at about $84.9 million.
• Bread Financial reported strong quarterly results, posting EPS of $4.18 versus the $3.00 estimate and revenue of $1.02 billion, while also raising its profile with a new $600 million share buyback authorization and a quarterly dividend of $0.23 per share.
• Wall Street sentiment remains positive overall, with several analysts raising ratings or price targets; the stock has a consensus rating of “Moderate Buy” and an average target price of $95.58.

Allianz Asset Management GmbH grew its holdings in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 21.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,147,366 shares of the company's stock after acquiring an additional 203,707 shares during the quarter. Allianz Asset Management GmbH owned 2.51% of Bread Financial worth $84,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BFH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Bread Financial by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,589 shares of the company's stock valued at $1,482,000 after acquiring an additional 1,286 shares during the period. Millennium Management LLC boosted its position in shares of Bread Financial by 46.5% in the first quarter. Millennium Management LLC now owns 345,902 shares of the company's stock valued at $17,323,000 after acquiring an additional 109,864 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Bread Financial by 104.8% in the first quarter. Goldman Sachs Group Inc. now owns 736,604 shares of the company's stock valued at $36,889,000 after acquiring an additional 376,920 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Bread Financial by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,833 shares of the company's stock valued at $7,904,000 after acquiring an additional 4,624 shares during the period. Finally, Strs Ohio bought a new stake in shares of Bread Financial in the first quarter valued at approximately $65,000. 99.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bread Financial news, Director Roger H. Ballou sold 9,687 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $90.32, for a total transaction of $874,929.84. Following the completion of the transaction, the director directly owned 30,079 shares in the company, valued at $2,716,735.28. This represents a 24.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John J. Fawcett bought 698 shares of the stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $86.43 per share, with a total value of $60,328.14. Following the completion of the purchase, the director owned 11,000 shares of the company's stock, valued at $950,730. This represents a 6.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BTIG Research increased their price objective on Bread Financial from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Zacks Research raised Bread Financial from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 16th. Weiss Ratings raised Bread Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, April 27th. Wolfe Research reaffirmed a "positive" rating on shares of Bread Financial in a research report on Wednesday. Finally, Bank of America reaffirmed a "buy" rating and issued a $108.00 target price on shares of Bread Financial in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.58.

Bread Financial Stock Performance

Bread Financial stock opened at $96.61 on Thursday. 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 stock has a fifty day moving average price of $85.67 and a two-hundred day moving average price of $77.70. Bread Financial Holdings, Inc. has a 52-week low of $50.63 and a 52-week high of $99.13. The firm has a market capitalization of $3.90 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.89 and a beta of 1.12.

Bread Financial (NYSE:BFH - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $1.18. Bread Financial had a return on equity of 18.79% and a net margin of 11.90%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $992.05 million. During the same period in the prior year, the company posted $2.86 earnings per share. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Bread Financial Holdings, Inc. will post 10.59 EPS for the current fiscal year.

Bread Financial announced that its Board of Directors has authorized a share buyback plan on Thursday, February 26th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Bread Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 29th. Bread Financial's dividend payout ratio is currently 7.53%.

Bread Financial 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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