Legal & General Group Plc Grows Position in Goldman Sachs BDC, Inc. $GSBD

Legal & General Group Plc increased its position in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) by 12.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 800,209 shares of the financial services provider’s stock after buying an additional 86,020 shares during the quarter. Legal & General Group Plc’s holdings in Goldman Sachs BDC were worth $7,422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sage Rhino Capital LLC increased its position in Goldman Sachs BDC by 39.9% in the 4th quarter. Sage Rhino Capital LLC now owns 409,885 shares of the financial services provider’s stock worth $3,804,000 after purchasing an additional 117,000 shares during the last quarter. UBS Group AG increased 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 worth $14,915,000 after purchasing an additional 247,163 shares during the last quarter. Argentarii LLC acquired a new position in Goldman Sachs BDC in the 4th quarter worth about $585,000. TrueMark Investments LLC acquired a new position in Goldman Sachs BDC in the 4th quarter worth about $902,000. Finally, Ethos Financial Group LLC increased its position in Goldman Sachs BDC by 247.0% in the 4th quarter. Ethos Financial Group LLC now owns 93,005 shares of the financial services provider’s stock worth $884,000 after purchasing an additional 66,203 shares during the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Insiders Place Their Bets

In other Goldman Sachs BDC news, Director Carlos E. Evans bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was 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 in the company, valued at $581,302.92. This trade represents a 346.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Goldman Sachs BDC Stock 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. The firm has a market cap of $996.81 million, a price-to-earnings ratio of 13.62 and a beta of 0.58. The business’s 50-day simple moving average is $9.23 and its 200-day simple moving average is $9.36. Goldman Sachs BDC, Inc. has a 52 week low of $8.65 and a 52 week high of $12.03.

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

Goldman Sachs BDC Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, June 30th. This represents a $1.28 annualized dividend and a yield of 14.5%. Goldman Sachs BDC’s dividend payout ratio is presently 196.92%.

Goldman Sachs BDC Company 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.