Corebridge Financial Inc. Sells 2,066 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Corebridge Financial Inc. lowered its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 7.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,475 shares of the company’s stock after selling 2,066 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Bread Financial worth $1,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BFH. CIBC Asset Management Inc increased its position in Bread Financial by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,872 shares of the company’s stock valued at $297,000 after acquiring an additional 206 shares during the last quarter. Savant Capital LLC raised its position in Bread Financial by 5.8% in the 4th quarter. Savant Capital LLC now owns 5,329 shares of the company’s stock worth $325,000 after purchasing an additional 290 shares during the period. Highland Capital Management LLC lifted its stake in Bread Financial by 6.5% in the fourth quarter. Highland Capital Management LLC now owns 5,734 shares of the company’s stock worth $350,000 after purchasing an additional 350 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in Bread Financial by 2,083.3% in the fourth quarter. Picton Mahoney Asset Management now owns 524 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Bread Financial by 36.1% during the fourth quarter. KBC Group NV now owns 2,103 shares of the company’s stock valued at $128,000 after buying an additional 558 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Bread Financial Trading Up 3.0 %

BFH opened at $51.69 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.25 and a beta of 1.96. Bread Financial Holdings, Inc. has a 12 month low of $32.10 and a 12 month high of $66.71. The stock has a fifty day moving average price of $55.65 and a 200-day moving average price of $56.21.

Bread Financial (NYSE:BFH) last announced its earnings results on Thursday, January 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Bread Financial had a net margin of 5.75% and a return on equity of 12.41%. As a group, equities research analysts anticipate that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.84 annualized dividend and a yield of 1.63%. Bread Financial’s dividend payout ratio (DPR) is 15.14%.

Bread Financial announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley upgraded Bread Financial from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $76.00 in a report on Thursday, December 19th. Compass Point lifted their target price on Bread Financial from $75.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price target on shares of Bread Financial from $67.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. JMP Securities reiterated a “market perform” rating on shares of Bread Financial in a report on Monday, February 3rd. Finally, Barclays upped their target price on shares of Bread Financial from $51.00 to $53.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Bread Financial currently has an average rating of “Hold” and an average price target of $59.69.

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.