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

Legal & General Group Plc bought a new position in shares of Golub Capital BDC, Inc. (NASDAQ:GBDC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,443,383 shares of the investment management company’s stock, valued at approximately $31,483,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Golub Capital BDC by 41.4% in the 1st quarter. Royal Bank of Canada now owns 131,544 shares of the investment management company’s stock worth $1,991,000 after buying an additional 38,534 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Golub Capital BDC by 19.7% during the first quarter. NewEdge Advisors LLC now owns 43,534 shares of the investment management company’s stock valued at $659,000 after buying an additional 7,178 shares in the last quarter. Empowered Funds LLC boosted its stake in Golub Capital BDC by 140.0% during the first quarter. Empowered Funds LLC now owns 27,411 shares of the investment management company’s stock valued at $415,000 after buying an additional 15,988 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Golub Capital BDC during the first quarter worth about $6,491,000. Finally, Focus Partners Wealth grew its holdings in Golub Capital BDC by 24.9% during the first quarter. Focus Partners Wealth now owns 33,355 shares of the investment management company’s stock worth $505,000 after acquiring an additional 6,658 shares during the period. 42.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GBDC. Zacks Research raised shares of Golub Capital BDC from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Golub Capital BDC from $14.00 to $13.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen upgraded Golub Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Golub Capital BDC in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada cut their target price on Golub Capital BDC from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.90.

Golub Capital BDC Stock Down 0.3%

GBDC stock opened at $13.03 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $3.38 billion, a P/E ratio of 20.05 and a beta of 0.39. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $14.93. The company’s 50 day simple moving average is $12.95 and its 200-day simple moving average is $12.84.

Golub Capital BDC (NASDAQ:GBDC) last posted its quarterly earnings data on Monday, August 3rd. The investment management company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $98.53 million during the quarter, compared to analyst estimates of $189.91 million. During the same quarter last year, the business posted $0.39 EPS. As a group, equities research analysts anticipate that Golub Capital BDC, Inc. will post 1.36 EPS for the current year.

Golub Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, September 14th. Golub Capital BDC’s dividend payout ratio (DPR) is 203.08%.

Insider Activity at Golub Capital BDC

In other news, Director Lawrence E. Golub sold 1,676,387 shares of Golub Capital BDC stock in a transaction on Friday, August 7th. The stock was sold at an average price of $13.06, for a total transaction of $21,893,614.22. The sale was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by company insiders.

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.