Fidelity & Guaranty Life sells $2.7m of Crescent Capital BDC stock

Fidelity & Guaranty Life Insurance Co., which owns 10% of Crescent Capital BDC Inc., recently sold 265,490 shares of the company's common stock. The transactions took place on September 8 and September 9, 2026, with the shares traded at prices between $10.2288 and $10.3322, and $10.18 and $10.28 per share, respectively. The volume-weighted average price for the shares sold on September 8 was $10.3322, while the price for the September 9 sale was $10.2288.

Following these sales, Fidelity & Guaranty Life Insurance Company of New York, a subsidiary of the reporting company, now owns 3,680,307 shares of Crescent Capital BDC common stock.

Crescent Capital BDC reported its second-quarter 2026 financial results on September 9, 2026. The company's net investment income per share was $0.36, which was slightly below the estimated $0.3667 per share. Despite the shortfall in revenue, the net investment income was enough to cover its $0.34 base dividend and enable a previously announced special payout.

Keefe, Bruyette & Woods recently downgraded Crescent Capital BDC's stock rating from Outperform to Market Perform. The downgrade was due to a 2.5% decline in net asset value and weaker earnings, along with concerns about deteriorating credit quality over the past two years. They also adjusted the price target for Crescent BDC from $13.00 to $12.00. These events indicate recent challenges facing Crescent Capital BDC Inc.