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

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Monday, February 23rd. Shareholders of record on Tuesday, March 17th will be paid a dividend of 0.15 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, March 17th.

Cannae has a dividend payout ratio of -56.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Trading Down 4.0%

Cannae stock traded down $0.52 during trading hours on Monday, hitting $12.68. The stock had a trading volume of 492,618 shares, compared to its average volume of 461,343. The business’s 50 day simple moving average is $15.08 and its 200-day simple moving average is $16.86. Cannae has a one year low of $12.65 and a one year high of $21.96. The stock has a market cap of $624.77 million, a price-to-earnings ratio of -1.64 and a beta of 1.09. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.05.

Cannae (NYSE:CNNE) last released its quarterly earnings results on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The firm had revenue of $103.30 million for the quarter, compared to the consensus estimate of $102.70 million. Cannae had a negative return on equity of 23.16% and a negative net margin of 108.39%.The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.74) earnings per share. On average, equities analysts predict that Cannae will post -3.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Cannae

A number of hedge funds have recently bought and sold shares of CNNE. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Cannae by 6.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 12,189 shares of the company’s stock valued at $254,000 after purchasing an additional 725 shares during the period. CWM LLC increased its position in Cannae by 25.0% in the 3rd quarter. CWM LLC now owns 4,065 shares of the company’s stock valued at $74,000 after buying an additional 812 shares in the last quarter. Raymond James Financial Inc. increased its position in Cannae by 0.5% in the 2nd quarter. Raymond James Financial Inc. now owns 267,358 shares of the company’s stock valued at $5,574,000 after buying an additional 1,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cannae by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after buying an additional 1,405 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Cannae by 66.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock worth $87,000 after acquiring an additional 1,669 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

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.