Royal Bank of Canada lessened its holdings in Fortress Investment Group LLC (NYSE:FIG) by 14.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 916,605 shares of the asset manager’s stock after selling 157,941 shares during the quarter. Royal Bank of Canada owned approximately 0.42% of Fortress Investment Group worth $7,324,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FIG. Bank of New York Mellon Corp purchased a new position in Fortress Investment Group in the first quarter valued at $343,000. Ameriprise Financial Inc. increased its holdings in Fortress Investment Group by 1.9% in the first quarter. Ameriprise Financial Inc. now owns 76,872 shares of the asset manager’s stock valued at $611,000 after buying an additional 1,447 shares during the last quarter. Stifel Financial Corp increased its holdings in Fortress Investment Group by 1.1% in the first quarter. Stifel Financial Corp now owns 35,071 shares of the asset manager’s stock valued at $279,000 after buying an additional 388 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in Fortress Investment Group in the first quarter valued at $1,141,000. Finally, Bank of America Corp DE increased its holdings in Fortress Investment Group by 1,599.3% in the first quarter. Bank of America Corp DE now owns 6,504,646 shares of the asset manager’s stock valued at $51,712,000 after buying an additional 6,121,865 shares during the last quarter. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

Fortress Investment Group LLC (NYSE FIG) opened at 7.94 on Thursday. The firm has a market cap of $1.74 billion, a P/E ratio of 20.10 and a beta of 1.92. The firm has a 50-day moving average of $7.97 and a 200 day moving average of $7.99. Fortress Investment Group LLC has a 1-year low of $4.50 and a 1-year high of $8.05.

Fortress Investment Group (NYSE:FIG) last released its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Fortress Investment Group had a net margin of 10.61% and a return on equity of 38.79%. The firm had revenue of $246.99 million for the quarter. On average, analysts predict that Fortress Investment Group LLC will post $0.74 EPS for the current year.

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Several equities analysts recently commented on the company. Zacks Investment Research raised Fortress Investment Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub lowered Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Fortress Investment Group currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Fortress Investment Group Company Profile

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).

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

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