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Last $5.80 USD
Change Today -0.16 / -2.68%
Volume 660.0K
FIG On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

fortress investment grp-cl a (FIG) Key Developments

Anbang Group Reportedly Makes $1 Billion Bid For Simplex

Anbang Insurance Group Co., Ltd. is bidding to buy Simplex Investment Advisors Inc., people with knowledge of the bid said, in a deal that could top $1 billion. Anbang Insurance, however, is up against other bidders for Simplex Investment being put up for sale by Aetos Capital Real Estate, LP. These competitors include Fortress Investment Group LLC (NYSE:FIG), The Blackstone Group L.P. (NYSE:BX) and Elliott Management Corporation. "There are several competitors," said a source close to Anbang. "The outcome is uncertain." Hulic Co., Ltd. (TSE:3003) and Kenedix Residential Investment Corporation (TSE:3278) were also shortlisted for the second round of bidding, which is expected to close by the end of this month, the sources had said.

Blackstone And Fortress Among Bidders For Simplex

The Blackstone Group L.P. (NYSE:BX), Fortress Investment Group LLC (NYSE:FIG) and Elliott Management Corporation are among those shortlisted for the second round of bidding to buy Simplex Investment Advisors Inc. which was put up for sale by Aetos Capital Real Estate, LP, three people with knowledge of the transaction said. Hulic Co., Ltd. (TSE:3003) and Kenedix, Inc. (TSE:4321) were also shortlisted, the sources told Reuters, asking not to be identified because the process is not public. The bidders may team up with others for the second bid, after bidding alone in the first round, they added. A Simplex official said the firm was not in a position to comment, while an Aetos official declined to comment. The second bidding round is expected to close by the end of August, people with knowledge of the transaction said.

Fortress Investment Group Provides Tax Rate Guidance for the Year 2015

Fortress Investment Group announced that the company still expects tax rate for 2015 to be a percentage in the mid- to high-teens.

Fortress Investment Group LLC Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Fortress Investment Group LLC reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $308,488,000 compared to $270,344,000 a year ago. Loss before income taxes was $220,000 compared to income before income taxes of $81,372,000 a year ago. Net income was $4,979,000 compared to $73,456,000 a year ago. Net income attributable to Class A shareholders were $3,316,000 or $0.00 per diluted share compared to $31,199,000 or $0.12 per diluted share a year ago. For the six months period, the company reported total revenues of $535,177,000 compared to $507,454,000 a year ago. Income before income taxes was $105,099,000 compared to $96,467,000 a year ago. Net income was $91,899,000 compared to $82,557,000 a year ago. Net income attributable to Class A shareholders were $38,029,000 or $0.16 per diluted share compared to $34,223,000 or $0.14 per diluted share a year ago.

Fortress Investment Group LLC Declares Second Quarter 2015 Cash Dividend, Payable on August 14, 2015

The Board of Directors of Fortress Investment Group LLC declared a second quarter 2015 cash dividend of $0.08 per dividend paying share. The dividend is payable on August 14, 2015 to Class A shareholders of record as of the close of business on August 11, 2015.

 

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Industry Analysis

FIG

Industry Average

Valuation FIG Industry Range
Price/Earnings 20.0x
Price/Sales 0.8x
Price/Book 2.1x
Price/Cash Flow 14.1x
TEV/Sales 1.1x
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