Vanguard Group Inc. Trims Position in Cannae Holdings, Inc. $CNNE

Vanguard Group Inc. trimmed its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 16.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,238,869 shares of the company’s stock after selling 837,279 shares during the period. Vanguard Group Inc. owned 8.60% of Cannae worth $66,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Cannae during the second quarter worth about $62,000. Kelleher Financial Advisors acquired a new position in shares of Cannae during the third quarter worth about $73,000. CWM LLC increased its stake in shares of Cannae by 25.0% during the third quarter. CWM LLC now owns 4,065 shares of the company’s stock worth $74,000 after acquiring an additional 812 shares during the period. AlphaQuest LLC increased its stake in shares of Cannae by 62.0% during the third quarter. AlphaQuest LLC now owns 5,781 shares of the company’s stock worth $106,000 after acquiring an additional 2,212 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Cannae by 27.4% during the third quarter. Envestnet Asset Management Inc. now owns 12,614 shares of the company’s stock worth $231,000 after acquiring an additional 2,716 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cannae Stock Performance

Shares of CNNE opened at $13.15 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.07 and a current ratio of 1.71. The company has a market capitalization of $577.99 million, a price-to-earnings ratio of -1.68 and a beta of 1.18. The company’s 50 day simple moving average is $12.34 and its 200 day simple moving average is $14.38. Cannae Holdings, Inc. has a 1 year low of $10.46 and a 1 year high of $21.96.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.30). The firm had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $99.77 million. Cannae had a negative net margin of 103.77% and a negative return on equity of 36.53%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted ($1.81) EPS. On average, sell-side analysts predict that Cannae Holdings, Inc. will post -2.02 EPS for the current year.

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.6%. Cannae’s dividend payout ratio is presently -7.68%.

Analysts Set New Price Targets

Several research analysts have weighed in on CNNE shares. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Cannae in a research report on Thursday, April 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Cannae in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cannae in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cannae presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Cannae Profile

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.