Fidelity & Guaranty Life Insurance Co. sold 59,286 shares of Crescent Capital BDC Inc. for a total of $628,590 in two transactions on August 26 and 27, 2026, according to regulatory filings.
The insurer disposed of 32,091 shares on August 26 at a volume-weighted average price of $10.6013 per share, with individual sale prices ranging from $10.60 to $10.625. On August 27, Fidelity & Guaranty Life sold an additional 27,195 shares at a volume-weighted average price of $10.6043 per share, with prices between $10.60 and $10.67.
Following the transactions, the insurer retains 4,072,564 shares of Crescent Capital BDC, held indirectly through its wholly owned subsidiary, Fidelity & Guaranty Life Insurance Company of New York. Crescent Capital BDC is a business development company listed on the NASDAQ under the ticker CCAP.
Crescent Capital BDC reported net investment income of $0.36 per share for the second quarter of 2026, missing Wall Street's estimate of $0.3667 per share. The company's revenue also fell short of forecasts, though net investment income was sufficient to cover its $0.34 base dividend and support a previously announced special payout.
Analysts at Keefe, Bruyette & Woods downgraded Crescent Capital BDC from Outperform to Market Perform, citing a 2.5% decline in net asset value and deteriorating credit quality over the past two years. The firm also lowered its price target from $13.00 to $12.00.
