The Manufacturers Life Insurance Company Has $1.59 Million Stake in Bread Financial Holdings, Inc. (NYSE:BFH)

The Manufacturers Life Insurance Company lowered its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 3.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,081 shares of the company’s stock after selling 831 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bread Financial were worth $1,593,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its position in Bread Financial by 2,083.3% during the fourth quarter. Picton Mahoney Asset Management now owns 524 shares of the company’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in Bread Financial during the fourth quarter worth approximately $46,000. Smartleaf Asset Management LLC grew its position in Bread Financial by 207.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,394 shares of the company’s stock worth $86,000 after buying an additional 941 shares in the last quarter. KBC Group NV grew its position in Bread Financial by 36.1% during the fourth quarter. KBC Group NV now owns 2,103 shares of the company’s stock worth $128,000 after buying an additional 558 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Bread Financial during the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Bread Financial Stock Up 0.0%

Shares of NYSE:BFH opened at $50.49 on Monday. The firm has a market cap of $2.35 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.25 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.33. Bread Financial Holdings, Inc. has a 12-month low of $38.21 and a 12-month high of $66.71. The business has a fifty day simple moving average of $47.99 and a 200 day simple moving average of $55.62.

Bread Financial (NYSE:BFH) last announced its earnings results on Thursday, April 24th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.76. The business had revenue of $970.00 million during the quarter, compared to analyst estimates of $956.17 million. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. Bread Financial’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $2.73 EPS. Analysts predict that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current year.

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

Bread Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 9th. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. Bread Financial’s payout ratio is currently 14.92%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of Bread Financial in a research note on Monday, April 28th. Compass Point upped their target price on Bread Financial from $75.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group upped their target price on Bread Financial from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. Barclays upped their target price on Bread Financial from $51.00 to $53.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group cut 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.00.

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.