The Manufacturers Life Insurance Company Takes Position in Bread Financial Holdings, Inc. $BFH

Key Points

• The Manufacturers Life Insurance Company initiated a position in Bread Financial by purchasing 19,569 shares valued at approximately $2.12 million. Institutional investors collectively own 99.52% of the company.
• Analysts maintain a generally positive outlook, with Bread Financial carrying a consensus “Moderate Buy” rating and an average price target of $112.08. Recent targets range from $104 to $130.
• Bread Financial exceeded quarterly expectations, reporting $3.55 in earnings per share and $993 million in revenue, while revenue increased 6.9% year over year. The company also declared a quarterly dividend of $0.23 per share.

The Manufacturers Life Insurance Company bought a new position in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 19,569 shares of the company's stock, valued at approximately $2,120,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Bread Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in Bread Financial during the second quarter worth $421,314,000. Dimensional Fund Advisors LP increased its position in shares of Bread Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,086,060 shares of the company's stock worth $231,111,000 after acquiring an additional 9,854 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Bread Financial by 17.3% during the fourth 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 holdings 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 during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings 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 during the last quarter. Institutional investors own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BFH. Bank of America reaffirmed a "buy" rating and issued a $108.00 price target on shares of Bread Financial in a research report on Wednesday, June 10th. Wolfe Research raised Bread Financial from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective for the company in a research note on Tuesday, August 25th. Barclays raised their target price on Bread Financial from $104.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, July 24th. TD Cowen lifted their target price on Bread Financial from $103.00 to $114.00 and gave the company a "hold" rating in a research report on Friday, July 24th. Finally, Loop Capital started coverage on Bread Financial in a report on Thursday, May 21st. They set a "buy" rating and a $104.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $112.08.

Bread Financial Price Performance

Bread Financial stock opened at $106.76 on Thursday. Bread Financial Holdings, Inc. has a 52 week low of $53.83 and a 52 week high of $114.53. The company's 50 day moving average price is $105.31 and its two-hundred day moving average price is $90.98. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4.10 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.64 and a beta of 1.10.

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

Bread Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 31st. Bread Financial's dividend payout ratio is 7.18%.

Insider Transactions at Bread Financial

In other Bread Financial news, Director Praniti Lakhwara sold 2,802 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $106.12, for a total value of $297,348.24. Following the completion of the transaction, the director owned 4,458 shares in the company, valued at $473,082.96. This represents a 38.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding BFH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bread Financial Holdings, Inc. (NYSE:BFH - Free Report).

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