Miller Value Partners LLC Invests $14.39 Million in Bread Financial Holdings, Inc. $BFH

Miller Value Partners LLC acquired a new stake in Bread Financial Holdings, Inc. (NYSE:BFH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 132,798 shares of the company’s stock, valued at approximately $14,389,000. Bread Financial makes up 3.4% of Miller Value Partners LLC’s portfolio, making the stock its 9th biggest position. Miller Value Partners LLC owned about 0.35% of Bread Financial at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BFH. BlackRock Inc. acquired a new position in Bread Financial in the 2nd quarter valued at about $421,314,000. Dimensional Fund Advisors LP grew its holdings in shares of Bread Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,086,060 shares of the company’s stock worth $231,111,000 after buying an additional 9,854 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Bread Financial by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 2,029,894 shares of the company’s stock worth $150,273,000 after buying an additional 299,439 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bread Financial by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,159,731 shares of the company’s stock valued at $85,866,000 after buying an additional 14,257 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Bread Financial by 21.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,147,366 shares of the company’s stock valued at $84,940,000 after buying an additional 203,707 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insider Activity at Bread Financial

In related news, Director Praniti Lakhwara sold 2,802 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $106.12, for a total transaction of $297,348.24. Following the completion of the sale, the director directly owned 4,458 shares of the company’s stock, valued at approximately $473,082.96. This trade represents a 38.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph J. Andretta sold 15,000 shares of Bread Financial stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $89.10, for a total value of $1,336,500.00. Following the sale, the chief executive officer directly owned 582,241 shares in the company, valued at approximately $51,877,673.10. The trade was a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Bread Financial Price Performance

Bread Financial stock opened at $107.82 on Wednesday. The firm has a fifty day moving average of $105.01 and a 200-day moving average of $89.76. Bread Financial Holdings, Inc. has a 52-week low of $53.83 and a 52-week high of $114.53. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $4.14 billion, a P/E ratio of 8.41, a PEG ratio of 0.66 and a beta of 1.11.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.81. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. The firm had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $959.32 million. During the same period in the prior year, the company earned $3.15 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Bread Financial Holdings, Inc. will post 12.1 EPS for the current year.

Bread Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.92 annualized dividend and a yield of 0.9%. Bread Financial’s payout ratio is 7.18%.

Analysts Set New Price Targets

BFH has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bread Financial in a research note on Wednesday, June 10th. Loop Capital started coverage on Bread Financial in a research report on Thursday, May 21st. They issued a “buy” rating and a $104.00 price objective for the company. The Goldman Sachs Group increased their target price on Bread Financial from $94.00 to $108.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Zacks Research cut Bread Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, BTIG Research increased their price objective on shares of Bread Financial from $105.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.08.

Bread Financial Company Profile

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.