Dallas, Texas 10/09/2013 (Financialstrend) – Fortress Investment Group LLC (NYSE:FIG) is a wealth and asset management firm servicing its clients in United States. It has a market cap of close to $1.84 billion. In the previous 12 months trailing period the share the company has notched up an impressive $100 million in net income. This was churned out of sales of close to $1.07 billion. In the trailing twelve months trailing period, the company has paid close to $0.24 as dividend. This translates to a 3.09% forward dividend yield which is relatively less in comparison to some of the dividend payouts made by its larger peers.
On October 7, the company field mandatory SEC filings which talk about the firm’s unaudited revenue and income statement for the month of August and September. The highlights are as follows: Its net returns from the drawbridge special opportunities fund was up 1% for the month ending August and was up 11.98% for year to date till August end. Similarly, Its Fortress Macro fund and Asia focused Fortress Asia macro fund had recorded a 0.84% and 0.73% increase in returns for the month of September.
As of October 8, the shares of the stock were trading at $7.77 per share down 1.77% from its previous day close. The wealth management stock experienced increasing selling pressure through the day with close to 1.23 million shares changing hands on a losing day when its daily trading average is only around 920 K. At current trading valuations, the stock is trading 5.3% less in comparison to its 52 week high pricing and is up 113% from its 52 week low pricing. The stock has a total of 237 million outstanding shares of which 70% is owned by institutional investors and the share holders will be hoping that the impending dividend payout announcement will not see dividends getting cut on the lines of other asset management companies.