Cannae Holdings, Inc. to Issue Quarterly Dividend of $0.15 (NYSE:CNNE)

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Tuesday, November 4th. Stockholders of record on Wednesday, December 17th will be paid a dividend of 0.15 per share on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, December 17th.

Cannae has a dividend payout ratio of -56.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Cannae to earn ($1.17) per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of -51.3%.

Cannae Stock Up 0.5%

CNNE traded up $0.09 during trading on Wednesday, hitting $17.80. The company had a trading volume of 49,775 shares, compared to its average volume of 648,209. The company has a market cap of $918.48 million, a PE ratio of -2.66 and a beta of 1.11. The business has a 50-day moving average of $18.58 and a 200-day moving average of $19.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.78 and a quick ratio of 2.78. Cannae has a 1-year low of $15.91 and a 1-year high of $22.36.

Insider Transactions at Cannae

In other news, Director Frank R. Martire sold 106,855 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $18.63, for a total transaction of $1,990,708.65. Following the sale, the director directly owned 26,478 shares in the company, valued at approximately $493,285.14. The trade was a 80.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Cannae

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNNE. Newtyn Management LLC increased its position in Cannae by 143.4% during the 1st quarter. Newtyn Management LLC now owns 4,600,000 shares of the company’s stock valued at $84,318,000 after purchasing an additional 2,710,000 shares during the period. Carronade Capital Management LP boosted its holdings in shares of Cannae by 66.2% during the 1st quarter. Carronade Capital Management LP now owns 2,874,116 shares of the company’s stock worth $52,683,000 after buying an additional 1,145,190 shares in the last quarter. Nuveen LLC bought a new position in shares of Cannae during the 1st quarter worth approximately $14,816,000. Private Management Group Inc. boosted its holdings in shares of Cannae by 91.1% during the 1st quarter. Private Management Group Inc. now owns 1,601,334 shares of the company’s stock worth $29,352,000 after buying an additional 763,324 shares in the last quarter. Finally, Rubric Capital Management LP boosted its holdings in shares of Cannae by 41.3% during the 2nd quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock worth $43,907,000 after buying an additional 615,616 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

About Cannae

Cannae Holdings, Inc is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc was founded in 2014 and is based in Las Vegas, Nevada.