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

Corebridge Financial Inc. lessened its holdings in Bread Financial Holdings, Inc. (NYSE:BFH) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,475 shares of the company’s stock after selling 2,066 shares during the quarter. Corebridge Financial Inc.’s holdings in Bread Financial were worth $1,617,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BFH. Vanguard Group Inc. lifted its position in Bread Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 5,848,495 shares of the company’s stock valued at $357,109,000 after purchasing an additional 36,057 shares during the period. LPL Financial LLC raised its position in Bread Financial by 69.6% during the fourth quarter. LPL Financial LLC now owns 39,197 shares of the company’s stock valued at $2,393,000 after acquiring an additional 16,081 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Bread Financial in the fourth quarter valued at approximately $611,000. American Century Companies Inc. grew its stake in shares of Bread Financial by 6.8% during the 4th quarter. American Century Companies Inc. now owns 1,382,135 shares of the company’s stock worth $84,393,000 after purchasing an additional 88,081 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Bread Financial by 96.8% in the 4th quarter. Intech Investment Management LLC now owns 146,805 shares of the company’s stock valued at $8,964,000 after purchasing an additional 72,204 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Bread Financial Stock Up 3.0 %

BFH stock 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 50-day moving average of $55.65 and a two-hundred day moving average of $56.21. Bread Financial Holdings, Inc. has a 12 month low of $32.10 and a 12 month high of $66.71. The company 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 (NYSE:BFH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. As a group, analysts forecast that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial announced that its board has initiated a stock buyback program on Wednesday, March 5th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Bread Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BFH. Keefe, Bruyette & Woods upped their price objective on shares of Bread Financial from $67.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. 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 research report on Thursday, December 19th. The Goldman Sachs Group reduced their target price on Bread Financial from $68.00 to $58.00 and set a “sell” rating for the company in a research note on Tuesday, March 18th. JMP Securities reissued a “market perform” rating on shares of Bread Financial in a research note on Monday, February 3rd. Finally, Compass Point upped their price objective on shares of Bread Financial from $75.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bread Financial currently has a consensus rating of “Hold” and a consensus target price 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.