Sumitomo Mitsui Trust Group Inc. Reduces Position in Goldman Sachs BDC, Inc. (NYSE:GSBD)

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 383,585 shares of the financial services provider’s stock after selling 35,286 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.33% of Goldman Sachs BDC worth $5,278,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in shares of Goldman Sachs BDC by 10.4% during the third quarter. Van ECK Associates Corp now owns 2,706,897 shares of the financial services provider’s stock worth $36,408,000 after purchasing an additional 255,458 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Goldman Sachs BDC during the second quarter worth $18,533,000. Shikiar Asset Management Inc. boosted its holdings in shares of Goldman Sachs BDC by 16.1% during the second quarter. Shikiar Asset Management Inc. now owns 554,290 shares of the financial services provider’s stock worth $8,331,000 after purchasing an additional 76,715 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Goldman Sachs BDC by 17.9% during the second quarter. Envestnet Asset Management Inc. now owns 523,071 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 79,315 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Goldman Sachs BDC by 8.9% during the second quarter. Cetera Investment Advisers now owns 422,010 shares of the financial services provider’s stock worth $6,343,000 after purchasing an additional 34,631 shares during the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GSBD shares. StockNews.com upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Truist Financial reduced their target price on Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Finally, Wells Fargo & Company upgraded Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $12.00 in a report on Monday, August 12th.

Goldman Sachs BDC Price Performance

Shares of Goldman Sachs BDC stock opened at $12.77 on Tuesday. Goldman Sachs BDC, Inc. has a twelve month low of $12.67 and a twelve month high of $15.94. The stock has a market capitalization of $1.50 billion, a P/E ratio of 18.24 and a beta of 1.07. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.19. The business’s fifty day moving average price is $13.61 and its 200 day moving average price is $14.50.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, November 7th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $110.41 million for the quarter, compared to analysts’ expectations of $112.43 million. Goldman Sachs BDC had a return on equity of 15.72% and a net margin of 17.01%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts anticipate that Goldman Sachs BDC, Inc. will post 2.18 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.10%. The ex-dividend date is Tuesday, December 31st. Goldman Sachs BDC’s dividend payout ratio is presently 257.14%.

Goldman Sachs BDC Profile

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.