Legal & General Group Plc Invests $11.16 Million in Bread Financial Holdings, Inc. $BFH

Key Points

• Legal & General Group Plc acquired 102,960 Bread Financial shares worth approximately $11.16 million, representing about 0.27% of the company. Institutional investors and hedge funds collectively own 99.52% of BFH.
• Bread Financial reported stronger-than-expected quarterly results, with EPS of $3.55 versus the $2.74 consensus estimate and revenue of $993 million, up 6.9% year over year.
• The company declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a 0.9% yield. Analysts have a consensus “Hold” rating and an average price target of $112.08.

Legal & General Group Plc purchased a new stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 102,960 shares of the company's stock, valued at approximately $11,156,000. Legal & General Group Plc owned approximately 0.27% of Bread Financial at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Bread Financial by 2.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,842 shares of the company's stock valued at $416,000 after acquiring an additional 99 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Bread Financial by 5.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,535 shares of the company's stock worth $262,000 after purchasing an additional 187 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Bread Financial by 58.7% during the first quarter. Pacer Advisors Inc. now owns 614 shares of the company's stock worth $46,000 after purchasing an additional 227 shares during the period. Vista Investment Management boosted its holdings in shares of Bread Financial by 1.1% during the fourth quarter. Vista Investment Management now owns 22,858 shares of the company's stock worth $1,692,000 after purchasing an additional 241 shares during the period. Finally, Corient Private Wealth LLC grew its position in Bread Financial by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,206 shares of the company's stock valued at $311,000 after purchasing an additional 259 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Bread Financial Price Performance

Shares of NYSE:BFH opened at $104.15 on Tuesday. The stock has a market capitalization of $4.00 billion, a P/E ratio of 8.12, a P/E/G ratio of 0.67 and a beta of 1.11. The business has a 50-day moving average of $105.31 and a two-hundred day moving average of $90.56. Bread Financial Holdings, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $114.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.17 and a quick ratio of 1.17.

Bread Financial (NYSE:BFH - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $3.55 EPS for the quarter, beating analysts' consensus estimates of $2.74 by $0.81. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $959.32 million. During the same quarter in the prior year, the firm posted $3.15 EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Bread Financial Holdings, Inc. will post 12.1 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.23 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. Bread Financial's dividend payout ratio (DPR) is currently 7.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Bread Financial from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Evercore reaffirmed an "outperform" rating and issued a $116.00 price target on shares of Bread Financial in a research note on Monday, July 6th. Seaport Research Partners reiterated a "buy" rating and set a $119.00 price objective on shares of Bread Financial in a report on Monday, July 27th. Royal Bank Of Canada restated a "sector perform" rating and issued a $115.00 target price on shares of Bread Financial in a research note on Friday, July 24th. Finally, Zacks Research cut Bread Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $112.08.

Insider Activity

In related news, Director Praniti Lakhwara sold 2,802 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $106.12, for a total transaction of $297,348.24. Following the completion of the sale, the director directly owned 4,458 shares of the company's stock, valued at approximately $473,082.96. This represents a 38.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company's stock.

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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