Bread Financial Holdings, Inc. (NYSE:BFH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Bread Financial Holdings, Inc. (NYSE:BFH) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 234,199 shares of the company’s stock after selling 10,401 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Bread Financial worth $11,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BFH. Millennium Management LLC increased its holdings in shares of Bread Financial by 81.6% in the second quarter. Millennium Management LLC now owns 1,464,195 shares of the company’s stock valued at $65,245,000 after purchasing an additional 657,968 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Bread Financial by 152.9% during the second quarter. Point72 Asset Management L.P. now owns 645,689 shares of the company’s stock worth $28,772,000 after acquiring an additional 390,413 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Bread Financial by 86.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 485,113 shares of the company’s stock worth $18,066,000 after acquiring an additional 224,545 shares during the last quarter. Vanguard Group Inc. increased its stake in Bread Financial by 3.8% during the first quarter. Vanguard Group Inc. now owns 5,847,645 shares of the company’s stock worth $217,766,000 after acquiring an additional 216,274 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Bread Financial by 22.4% during the second quarter. American Century Companies Inc. now owns 1,161,443 shares of the company’s stock worth $51,754,000 after acquiring an additional 212,276 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen raised their target price on Bread Financial from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Compass Point raised their target price on Bread Financial from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays cut their target price on Bread Financial from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada raised their price target on Bread Financial from $47.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price target on Bread Financial from $48.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.64.

Bread Financial Trading Up 3.2 %

NYSE:BFH opened at $58.50 on Monday. The firm has a market cap of $2.91 billion, a PE ratio of 9.32 and a beta of 1.94. The stock has a fifty day moving average price of $51.25 and a 200 day moving average price of $48.34. Bread Financial Holdings, Inc. has a 12-month low of $26.27 and a 12-month high of $63.01. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33.

Bread Financial (NYSE:BFH) last released its earnings results on Thursday, October 24th. The company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.03). The company had revenue of $983.00 million during the quarter, compared to analysts’ expectations of $981.26 million. Bread Financial had a net margin of 6.37% and a return on equity of 13.33%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $3.46 earnings per share. Sell-side analysts anticipate that Bread Financial Holdings, Inc. will post 7.63 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, November 8th. Bread Financial’s dividend payout ratio (DPR) is 13.38%.

Insiders Place Their Bets

In other Bread Financial news, Director John J. Fawcett purchased 1,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was bought at an average cost of $51.02 per share, with a total value of $51,020.00. Following the acquisition, the director now directly owns 6,473 shares of the company’s stock, valued at approximately $330,252.46. This represents a 18.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.62% of the stock is owned by company insiders.

About Bread Financial

Bread Financial Holdings, Inc provides tech-forward payment and lending solutions to customers and consumer-based industries in North America. It offers credit card and other loans financing services, including risk management solutions, account origination, and funding services for private label and co-brand credit card programs, as well as through Bread partnerships; and Comenity-branded general purpose cash-back credit.