Legal & General Group Plc Purchases New Stake in Golub Capital BDC, Inc. $GBDC

Legal & General Group Plc acquired a new position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,443,383 shares of the investment management company’s stock, valued at approximately $31,483,000. Legal & General Group Plc owned approximately 0.94% of Golub Capital BDC at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GBDC. Allworth Financial LP purchased a new stake in Golub Capital BDC in the 2nd quarter valued at approximately $25,000. Burk Holdings LLC acquired a new stake in Golub Capital BDC in the 2nd quarter worth about $30,000. Main Street Group LTD acquired a new stake in shares of Golub Capital BDC in the first quarter worth approximately $47,000. Fifth Third Bancorp acquired a new position in shares of Golub Capital BDC in the 1st quarter valued at $68,000. Finally, Trust Co. of Vermont acquired a new position in Golub Capital BDC in the second quarter valued at $77,000. Institutional investors and hedge funds own 42.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GBDC shares. Zacks Research raised shares of Golub Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Golub Capital BDC in a report on Wednesday, June 24th. Oppenheimer restated an “outperform” rating and issued a $14.00 target price on shares of Golub Capital BDC in a research note on Wednesday, May 6th. Wall Street Zen raised Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Golub Capital BDC from $14.00 to $13.50 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

Insider Transactions at Golub Capital BDC

In other news, Director Lawrence E. Golub sold 1,676,387 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $13.06, for a total value of $21,893,614.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

Golub Capital BDC Trading Down 0.3%

Golub Capital BDC stock opened at $13.03 on Friday. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $14.93. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 20.05 and a beta of 0.39. The firm has a 50-day moving average price of $12.95 and a two-hundred day moving average price of $12.84.

Golub Capital BDC (NASDAQ:GBDC) last announced its quarterly earnings results on Monday, August 3rd. The investment management company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Golub Capital BDC had a net margin of 21.45% and a return on equity of 9.91%. The company had revenue of $98.53 million for the quarter, compared to analyst estimates of $189.91 million. During the same quarter last year, the business earned $0.39 earnings per share. Sell-side analysts expect that Golub Capital BDC, Inc. will post 1.36 earnings per share for the current year.

Golub Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 10.1%. The ex-dividend date is Monday, September 14th. Golub Capital BDC’s payout ratio is 203.08%.

Golub Capital BDC Company Profile

Golub Capital BDC (NASDAQ: GBDC) is a publicly traded business development company specializing in providing debt and equity financing solutions to middle-market companies in the United States. Externally managed by Golub Capital LLC, the firm focuses on building a diversified portfolio of senior secured loans, unitranche facilities and second-lien debt instruments designed to support growth, acquisitions and recapitalizations. As a closed-end investment vehicle, GBDC offers investors direct exposure to private credit strategies within a regulated structure.

The company’s core business activities center on originating and managing bespoke financing arrangements for U.S.