American Century Companies Inc. Acquires 85,643 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Jun 8th, 2023

American Century Companies Inc. boosted its holdings in Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 404,744 shares of the company’s stock after acquiring an additional 85,643 shares during the quarter. American Century Companies Inc. owned 0.81% of Bread Financial worth $15,243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ellevest Inc. grew its holdings in shares of Bread Financial by 61.0% during the fourth quarter. Ellevest Inc. now owns 702 shares of the company’s stock worth $26,000 after purchasing an additional 266 shares in the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of Bread Financial by 63.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 848 shares of the company’s stock worth $27,000 after buying an additional 328 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Bread Financial by 2.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 12,762 shares of the company’s stock valued at $481,000 after buying an additional 340 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Bread Financial by 6.6% during the 4th quarter. Bank of Montreal Can now owns 6,246 shares of the company’s stock worth $241,000 after acquiring an additional 386 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Bread Financial by 4.0% in the fourth quarter. Arizona State Retirement System now owns 14,065 shares of the company’s stock worth $530,000 after acquiring an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Turtle Creek Asset Management acquired 15,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were acquired at an average cost of $29.50 per share, with a total value of $442,500.00. Following the transaction, the insider now owns 4,956,281 shares in the company, valued at approximately $146,210,289.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 568,911 shares of company stock valued at $15,310,418 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

BFH has been the topic of a number of research reports. Morgan Stanley lowered their price target on Bread Financial from $39.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. Keefe, Bruyette & Woods downgraded Bread Financial from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $35.00 to $30.00 in a research report on Tuesday, April 11th. Stephens reiterated an “overweight” rating and set a $64.00 price target on shares of Bread Financial in a research report on Friday, March 10th. Finally, The Goldman Sachs Group lowered their price objective on shares of Bread Financial from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, April 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.88.

Bread Financial Stock Up 3.9 %

Shares of NYSE:BFH opened at $32.73 on Thursday. Bread Financial Holdings, Inc. has a 1 year low of $23.19 and a 1 year high of $55.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s 50-day moving average is $28.13 and its 200 day moving average is $34.55. The company has a market cap of $1.64 billion, a PE ratio of 3.50, a P/E/G ratio of 0.08 and a beta of 1.91.

Bread Financial (NYSE:BFH – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported $9.08 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $1.97. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bread Financial had a return on equity of 19.35% and a net margin of 9.66%. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.21 earnings per share. Sell-side analysts anticipate that Bread Financial Holdings, Inc. will post 11.68 EPS for the current year.

Bread Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 12th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, May 11th. Bread Financial’s dividend payout ratio is currently 8.99%.

Bread Financial Company Profile

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Bread Financial Holdings, Inc engages in the provision of payment, lending, and saving solutions. The firm also offers private label and co-brand credit cards and buy now, pay later products such as installment loans and split-pay offerings. The company was founded in 1996 and is headquartered in Columbus, OH.