Vanguard Group Inc. Cuts Stock Holdings in Cannae Holdings, Inc. $CNNE

Vanguard Group Inc. lowered its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 16.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,238,869 shares of the company’s stock after selling 837,279 shares during the period. Vanguard Group Inc. owned about 0.09% of Cannae worth $66,677,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Rubric Capital Management LP raised its stake in Cannae by 41.3% during the second quarter. Rubric Capital Management LP now owns 2,105,864 shares of the company’s stock worth $43,907,000 after purchasing an additional 615,616 shares during the period. Private Management Group Inc. raised its stake in Cannae by 5.9% during the third quarter. Private Management Group Inc. now owns 1,679,660 shares of the company’s stock worth $30,755,000 after purchasing an additional 94,002 shares during the period. Poehling Capital Management INC. raised its stake in Cannae by 1.5% during the third quarter. Poehling Capital Management INC. now owns 835,279 shares of the company’s stock worth $15,294,000 after purchasing an additional 12,640 shares during the period. Almitas Capital LLC raised its stake in Cannae by 73.4% during the third quarter. Almitas Capital LLC now owns 556,688 shares of the company’s stock worth $10,193,000 after purchasing an additional 235,702 shares during the period. Finally, Bank of America Corp DE raised its stake in Cannae by 7.7% during the second quarter. Bank of America Corp DE now owns 546,862 shares of the company’s stock worth $11,402,000 after purchasing an additional 38,960 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CNNE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research note on Wednesday, April 8th. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Cannae in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Cannae in a research note on Tuesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Cannae Stock Performance

Cannae stock opened at $13.15 on Friday. Cannae Holdings, Inc. has a 12-month low of $10.46 and a 12-month high of $21.96. 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 has a debt-to-equity ratio of 0.07, a current ratio of 1.71 and a quick ratio of 2.07. The firm’s fifty day moving average price is $12.34 and its 200 day moving average price is $14.38.

Cannae (NYSE:CNNE) last released its quarterly earnings results 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). Cannae had a negative return on equity of 36.53% and a negative net margin of 103.77%.The firm had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $99.77 million. During the same period last year, the firm earned ($1.81) EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis. On average, research analysts forecast that Cannae Holdings, Inc. will post -2.02 EPS for the current fiscal year.

Cannae Announces Dividend

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

About Cannae

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.