Fidelity & Guaranty Life sells $628,590 in Crescent Capital BDC shares

Fidelity & Guaranty Life Insurance Co., which owns and directs Crescent Capital BDC, Inc., sold $628,590 worth of the company's shares over two days in late August 2026. The transactions, spread across August 26 and 27, averaged out at $10.6013 to $10.6043 per share. Specifically, on August 26, the company sold 32,091 shares at an average price of $10.6013, while on August 27, an additional 27,195 shares were sold at a slightly higher average price of $10.6043.

After these sales, the reporting person's beneficial ownership in Crescent Capital BDC, Inc. is now 4,072,564 shares, held indirectly by Fidelity & Guaranty Life Insurance Company of New York, a wholly owned subsidiary. Meanwhile, Crescent Capital BDC reported a net investment income of $0.36 per share for the second quarter of 2026, slightly below projections. Despite this, the company confirmed it had enough income to meet a $0.34 base dividend and a special payout.

Keefe, Bruyette & Woods recently downgraded Crescent Capital BDC's stock rating from "Outperform" to "Market Perform", citing a 2.5% drop in net asset value and worsening credit quality over the past two years. The firm also reduced its price target for the stock from $13.00 to $12.00. These recent events underscore the ongoing challenges facing the company.