Legal & General Group Plc Acquires 315,984 Shares of Golub Capital BDC, Inc. $GBDC

Key Points

• Legal & General Group Plc increased its stake in Golub Capital BDC by 18.1% in the fourth quarter, adding 315,984 shares and bringing its total holding to 2,062,851 shares worth about $28 million.
• Golub Capital BDC reported Q1 earnings of $0.34 per share, missing analyst estimates of $0.36, while revenue also came in below expectations; analysts now see full-year EPS at 1.36.
• The company declared a quarterly dividend of $0.33 per share, implying a 10.0% annualized yield, though the payout ratio is elevated at 171.43%.

Legal & General Group Plc boosted its holdings in Golub Capital BDC, Inc. (NASDAQ:GBDC - Free Report) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,062,851 shares of the investment management company's stock after acquiring an additional 315,984 shares during the quarter. Legal & General Group Plc owned 0.78% of Golub Capital BDC worth $27,983,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Truist Financial Corp lifted its position in Golub Capital BDC by 5.6% during the third quarter. Truist Financial Corp now owns 19,603 shares of the investment management company's stock valued at $268,000 after purchasing an additional 1,035 shares during the last quarter. Keel Point LLC increased its holdings in shares of Golub Capital BDC by 2.7% in the 2nd quarter. Keel Point LLC now owns 39,845 shares of the investment management company's stock worth $584,000 after buying an additional 1,039 shares during the last quarter. Beverly Hills Private Wealth LLC increased its holdings in shares of Golub Capital BDC by 6.2% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 20,516 shares of the investment management company's stock worth $281,000 after buying an additional 1,200 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Golub Capital BDC by 3.8% during the 3rd quarter. Mackenzie Financial Corp now owns 42,767 shares of the investment management company's stock valued at $585,000 after buying an additional 1,557 shares in the last quarter. Finally, Family Wealth Partners LLC raised its position in shares of Golub Capital BDC by 3.2% during the 4th quarter. Family Wealth Partners LLC now owns 54,554 shares of the investment management company's stock valued at $740,000 after buying an additional 1,688 shares in the last quarter. Institutional investors own 42.38% of the company's stock.

Golub Capital BDC Stock Performance

Shares of NASDAQ GBDC opened at $13.16 on Monday. Golub Capital BDC, Inc. has a 52-week low of $11.77 and a 52-week high of $15.63. The company has a market cap of $3.43 billion, a PE ratio of 17.09 and a beta of 0.39. The firm's 50 day moving average price is $12.98 and its 200-day moving average price is $13.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.20 and a current ratio of 2.20.

Golub Capital BDC (NASDAQ:GBDC - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of ($5.28) million during the quarter, compared to the consensus estimate of $201.71 million. Golub Capital BDC had a net margin of 24.64% and a return on equity of 10.20%. During the same period last year, the company posted $0.30 earnings per share. On average, equities research analysts expect that Golub Capital BDC, Inc. will post 1.36 EPS for the current fiscal year.

Golub Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 10.0%. The ex-dividend date is Monday, June 15th. Golub Capital BDC's dividend payout ratio (DPR) is presently 171.43%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Golub Capital BDC from a "hold" rating to a "sell" rating in a research report on Sunday, April 19th. Zacks Research lowered Golub Capital BDC from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods dropped their target price on Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. Oppenheimer reissued an "outperform" rating and set a $14.00 price target on shares of Golub Capital BDC in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada cut their price objective on shares of Golub Capital BDC from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Golub Capital BDC currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

About Golub Capital BDC

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.

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