Pzena Investment Management LLC Invests $35.48 Million in Bread Financial Holdings, Inc. $BFH

Key Points

• Pzena Investment Management acquired 327,448 Bread Financial shares worth approximately $35.48 million, representing about 0.85% of the company. Institutional investors collectively own 99.52% of BFH.
• Bread Financial exceeded quarterly expectations, reporting $3.55 in earnings per share versus the $2.74 consensus estimate and $993 million in revenue, up 6.9% year over year.
• The company declared a quarterly dividend of $0.23 per share, or $0.92 annualized, equating to a 0.8% yield. Analysts maintain a consensus “Hold” rating with a $110.58 price target.

Pzena Investment Management LLC acquired a new stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 327,448 shares of the company's stock, valued at approximately $35,479,000. Pzena Investment Management LLC owned approximately 0.85% of Bread Financial as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Bread Financial during the second quarter worth $421,314,000. Dimensional Fund Advisors LP increased its holdings in shares of Bread Financial by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,086,060 shares of the company's stock valued at $231,111,000 after acquiring an additional 9,854 shares during the period. Franklin Resources Inc. raised its position in shares of Bread Financial by 17.3% in the 4th quarter. Franklin Resources Inc. now owns 2,029,894 shares of the company's stock worth $150,273,000 after acquiring an additional 299,439 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bread Financial by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,159,731 shares of the company's stock worth $85,866,000 after acquiring an additional 14,257 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Bread Financial by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,147,366 shares of the company's stock worth $84,940,000 after acquiring an additional 203,707 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bread Financial

In other Bread Financial news, CEO Ralph J. Andretta sold 15,000 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $89.10, for a total transaction of $1,336,500.00. Following the sale, the chief executive officer owned 582,241 shares in the company, valued at approximately $51,877,673.10. The trade was a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John J. Fawcett acquired 698 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was purchased at an average cost of $86.43 per share, for a total transaction of $60,328.14. Following the completion of the acquisition, the director directly owned 11,000 shares of the company's stock, valued at approximately $950,730. This trade represents a 6.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.30% of the company's stock.

Bread Financial Trading Down 1.7%

NYSE BFH opened at $111.51 on Tuesday. Bread Financial Holdings, Inc. has a 12-month low of $53.83 and a 12-month high of $114.53. The company has a fifty day simple moving average of $104.12 and a two-hundred day simple moving average of $88.32. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4.28 billion, a P/E ratio of 8.70, a P/E/G ratio of 0.72 and a beta of 1.11.

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

Bread Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.92 dividend on an annualized basis and a yield of 0.8%. Bread Financial's payout ratio is currently 7.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research downgraded Bread Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Bread Financial from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Seaport Research Partners reiterated a "buy" rating and issued a $119.00 target price on shares of Bread Financial in a report on Monday, July 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Bread Financial in a research report on Friday, July 24th. Finally, UBS Group raised their price target on shares of Bread Financial from $120.00 to $127.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $110.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source