California Public Employees Retirement System boosted its stake in Fortress Investment Group LLC (NYSE:FIG) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 237,600 shares of the asset manager’s stock after acquiring an additional 13,300 shares during the period. California Public Employees Retirement System owned 0.11% of Fortress Investment Group worth $1,898,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. MML Investors Services LLC acquired a new position in Fortress Investment Group in the 2nd quarter valued at about $108,000. FMR LLC increased its position in Fortress Investment Group by 19.5% in the 2nd quarter. FMR LLC now owns 149,048 shares of the asset manager’s stock valued at $1,191,000 after acquiring an additional 24,286 shares during the period. Vanguard Group Inc. increased its position in Fortress Investment Group by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 231,800 shares of the asset manager’s stock valued at $1,852,000 after acquiring an additional 18,028 shares during the period. Citigroup Inc. increased its position in Fortress Investment Group by 4.1% in the 2nd quarter. Citigroup Inc. now owns 10,432,867 shares of the asset manager’s stock valued at $83,358,000 after acquiring an additional 414,587 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Fortress Investment Group by 681.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 600,498 shares of the asset manager’s stock valued at $4,798,000 after acquiring an additional 523,626 shares during the period. Hedge funds and other institutional investors own 39.91% of the company’s stock.

Fortress Investment Group LLC (NYSE:FIG) opened at $7.87 on Friday. The stock has a market capitalization of $3.06 billion, a PE ratio of 8.65 and a beta of 1.91.

Fortress Investment Group (NYSE:FIG) last announced its quarterly earnings data on Thursday, August 3rd. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $246.99 million for the quarter. Fortress Investment Group had a return on equity of 38.79% and a net margin of 10.61%. sell-side analysts forecast that Fortress Investment Group LLC will post 0.93 earnings per share for the current year.

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FIG has been the topic of several recent research reports. Zacks Investment Research upgraded Fortress Investment Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. BidaskClub cut Fortress Investment Group from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Fortress Investment Group currently has a consensus rating of “Hold” and a consensus price target of $6.00.

About Fortress Investment Group

Fortress Investment Group LLC (Fortress) is an investment management firm. The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle. Its business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (the Fortress Funds).

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Institutional Ownership by Quarter for Fortress Investment Group (NYSE:FIG)

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