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Highlights:
Mutual of America Capital Management LLC reduced its holdings in Bread Financial Holdings by 8.3% during Q3.
Institutional investors continue to adjust their stakes in Bread Financial, with Vanguard Group and others increasing their positions.
Bread Financial reported a slight miss in earnings for the recent quarter but announced a dividend payment scheduled for December.
Mutual of America Capital Management LLC trimmed its holdings in Bread Financial Holdings, Inc. (NYSE:BFH) by 8.3% during the third quarter, according to its latest SEC filing. Following the sale of 678 shares, the firm now holds 7,472 shares of the company, valued at $356,000. This change is part of a broader trend among institutional investors, many of whom have adjusted their stakes in Bread Financial recently.
Vanguard Group, for example, increased its holdings by 3.8% in the first quarter, now owning over 5.8 million shares. Other firms such as CANADA LIFE ASSURANCE Co. and Price T Rowe Associates have also made notable adjustments to their positions in the company. Institutional ownership remains significant, with 99.52% of the company’s stock currently held by large investors.
In terms of insider activity, Director John J. Fawcett made a recent purchase of 1,000 shares at an average price of $51.02 per share. This transaction increased his stake in the company by 18.27%, further demonstrating confidence in Bread Financial’s prospects.
Bread Financial recently reported its quarterly earnings, revealing earnings per share (EPS) of $1.83, slightly below analyst expectations. Revenue for the quarter totaled $983 million, a modest increase over the previous year. The company’s performance reflected a net margin of 6.37% and a return on equity of 13.33%. However, the company did experience a decline in revenue, down 4.7% year-over-year.
Looking ahead, Bread Financial announced a quarterly dividend of $0.21 per share, with a payout scheduled for December 13. This represents an annualized dividend yield of 1.45%, reflecting the company’s ongoing commitment to returning value to shareholders. Despite recent challenges, Bread Financial’s strong institutional backing and financial resilience remain key aspects of its outlook.
