Goldman Sachs BDC, Inc. $GSBD Shares Bought by Legal & General Group Plc

Legal & General Group Plc raised its stake in Goldman Sachs BDC, Inc. (NYSE:GSBD) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800,209 shares of the financial services provider’s stock after purchasing an additional 86,020 shares during the period. Legal & General Group Plc owned about 0.70% of Goldman Sachs BDC worth $7,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in Goldman Sachs BDC by 3.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,889,090 shares of the financial services provider’s stock valued at $29,382,000 after purchasing an additional 89,009 shares in the last quarter. UBS Group AG raised its position in Goldman Sachs BDC by 18.2% in the 4th quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock valued at $14,915,000 after purchasing an additional 247,163 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Goldman Sachs BDC by 412.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock valued at $12,419,000 after acquiring an additional 888,608 shares during the last quarter. Invesco Ltd. raised its position in shares of Goldman Sachs BDC by 14.2% during the 3rd quarter. Invesco Ltd. now owns 1,063,940 shares of the financial services provider’s stock worth $10,820,000 after acquiring an additional 132,322 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Goldman Sachs BDC by 14.7% during the 3rd quarter. Bank of America Corp DE now owns 989,965 shares of the financial services provider’s stock worth $10,068,000 after acquiring an additional 127,036 shares in the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial cut their target price on Goldman Sachs BDC from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday, May 19th. Wall Street Zen lowered Goldman Sachs BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Wells Fargo & Company cut their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Zacks Research lowered Goldman Sachs BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Tuesday. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $9.17.

Goldman Sachs BDC Price Performance

Shares of NYSE GSBD opened at $8.86 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. Goldman Sachs BDC, Inc. has a fifty-two week low of $8.65 and a fifty-two week high of $12.03. The firm has a market capitalization of $996.81 million, a PE ratio of 13.62 and a beta of 0.58. The stock’s 50-day simple moving average is $9.23 and its 200-day simple moving average is $9.36.

Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $10.35 million for the quarter, compared to analysts’ expectations of $83.78 million. Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%. As a group, equities research analysts forecast that Goldman Sachs BDC, Inc. will post 1.15 EPS for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 14.5%. The ex-dividend date is Tuesday, June 30th. Goldman Sachs BDC’s dividend payout ratio (DPR) is currently 196.92%.

Insider Transactions at Goldman Sachs BDC

In other news, Director Carlos E. Evans purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were purchased at an average price of $9.02 per share, for a total transaction of $451,000.00. Following the purchase, the director directly owned 64,446 shares of the company’s stock, valued at $581,302.92. This represents a 346.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Goldman Sachs BDC Profile

Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company’s primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management’s Private Credit Group, leveraging the firm’s global research capabilities and risk management infrastructure.