Veritable L.P. cut its holdings in Fortress Investment Group LLC (NYSE:FIG) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,046 shares of the asset manager’s stock after selling 7,743 shares during the period. Veritable L.P.’s holdings in Fortress Investment Group were worth $512,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Virtu KCG Holdings LLC increased its position in Fortress Investment Group by 87.1% during the second quarter. Virtu KCG Holdings LLC now owns 66,601 shares of the asset manager’s stock worth $532,000 after buying an additional 31,008 shares during the last quarter. California Public Employees Retirement System raised its holdings in Fortress Investment Group by 5.9% during the second quarter. California Public Employees Retirement System now owns 237,600 shares of the asset manager’s stock valued at $1,898,000 after buying an additional 13,300 shares in the last quarter. MML Investors Services LLC bought a new position in Fortress Investment Group during the second quarter valued at about $108,000. FMR LLC boosted its stake in shares of Fortress Investment Group by 19.5% during the 2nd quarter. FMR LLC now owns 149,048 shares of the asset manager’s stock worth $1,191,000 after acquiring an additional 24,286 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Fortress Investment Group by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 231,800 shares of the asset manager’s stock worth $1,852,000 after acquiring an additional 18,028 shares in the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

Fortress Investment Group LLC (NYSE:FIG) opened at 7.97 on Monday. Fortress Investment Group LLC has a 1-year low of $4.50 and a 1-year high of $8.05. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 20.18 and a beta of 1.92. The company has a 50-day moving average of $7.98 and a 200-day moving average of $7.99.

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

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FIG has been the topic of a number of recent analyst reports. BidaskClub raised Fortress Investment Group from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded Fortress Investment Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Fortress Investment Group presently has an average rating of “Hold” and a consensus target price of $5.83.

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).

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

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