Assetmark Inc. Grows Stock Position in Bread Financial Holdings, Inc. $BFH

Assetmark Inc. increased its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 6.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,588 shares of the company’s stock after purchasing an additional 9,042 shares during the quarter. Assetmark Inc. owned approximately 0.39% of Bread Financial worth $11,877,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BFH. Bessemer Group Inc. grew its holdings in shares of Bread Financial by 43.3% during the first quarter. Bessemer Group Inc. now owns 71,078 shares of the company’s stock worth $5,323,000 after buying an additional 21,471 shares in the last quarter. Calamos Advisors LLC purchased a new position in Bread Financial during the first quarter worth approximately $366,000. Principal Financial Group Inc. lifted its position in Bread Financial by 82.3% during the first quarter. Principal Financial Group Inc. now owns 396,691 shares of the company’s stock worth $29,708,000 after buying an additional 179,059 shares in the last quarter. Fifth Third Bancorp boosted its stake in Bread Financial by 5,814.5% during the first quarter. Fifth Third Bancorp now owns 17,566 shares of the company’s stock worth $1,315,000 after buying an additional 17,269 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Bread Financial by 14.7% during the first quarter. Hsbc Holdings PLC now owns 1,009,890 shares of the company’s stock worth $74,667,000 after buying an additional 129,774 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Bread Financial Trading Up 0.2%

Shares of NYSE BFH opened at $99.55 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $4.02 billion, a PE ratio of 8.15, a PEG ratio of 0.88 and a beta of 1.10. Bread Financial Holdings, Inc. has a twelve month low of $53.83 and a twelve month high of $109.91. The stock has a fifty day simple moving average of $95.95 and a 200-day simple moving average of $83.42.

Bread Financial (NYSE:BFH) last posted its earnings results on Thursday, April 23rd. The company reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $1.18. Bread Financial had a return on equity of 18.79% and a net margin of 11.90%.The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $992.05 million. During the same quarter in the prior year, the company earned $2.86 EPS. Bread Financial’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Bread Financial Holdings, Inc. will post 10.98 earnings per share for the current year.

Bread Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Bread Financial’s dividend payout ratio (DPR) is currently 7.53%.

Analysts Set New Price Targets

Several research firms have recently commented on BFH. The Goldman Sachs Group lifted their price target on Bread Financial from $94.00 to $108.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. UBS Group raised their price target on shares of Bread Financial from $94.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. TD Cowen lifted their price target on shares of Bread Financial from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Evercore reiterated an “outperform” rating and issued a $116.00 price objective on shares of Bread Financial in a report on Monday, July 6th. Finally, Wolfe Research reiterated a “positive” rating on shares of Bread Financial in a research report on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $108.25.

Insider Activity

In related news, CEO Ralph J. Andretta sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $89.10, for a total value of $1,336,500.00. Following the sale, the chief executive officer owned 582,241 shares of the company’s stock, valued at $51,877,673.10. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John J. Fawcett purchased 698 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of $86.43 per share, with a total value of $60,328.14. Following the purchase, the director directly owned 11,000 shares of the company’s stock, valued at $950,730. The trade was a 6.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.30% of the company’s stock.

About Bread Financial

Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.

In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.