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

Vanguard Group Inc. trimmed its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 13.0% in the third quarter, HoldingsChannel.com reports. The fund owned 5,076,148 shares of the company’s stock after selling 761,462 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Cannae worth $92,944,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Cannae by 83.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 289,963 shares of the company’s stock valued at $5,309,000 after purchasing an additional 132,166 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Cannae by 11.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 117,647 shares of the company’s stock worth $2,154,000 after purchasing an additional 11,657 shares during the period. Poehling Capital Management INC. boosted its holdings in shares of 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 last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Cannae in the third quarter valued at $855,000. Finally, Envestnet Asset Management Inc. increased its stake in Cannae by 27.4% in the third quarter. Envestnet Asset Management Inc. now owns 12,614 shares of the company’s stock valued at $231,000 after purchasing an additional 2,716 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CNNE has been the subject of several recent analyst reports. Royal Bank Of Canada lowered their price target on Cannae from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cannae in a research report on Friday, January 9th. Two equities research 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. According to data from MarketBeat, Cannae has a consensus rating of “Hold” and an average target price of $19.00.

Cannae Stock Up 1.5%

Shares of NYSE:CNNE opened at $11.94 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.07. Cannae Holdings, Inc. has a 1 year low of $11.24 and a 1 year high of $21.96. The stock has a market capitalization of $553.18 million, a P/E ratio of -1.34 and a beta of 1.11. The stock has a 50-day simple moving average of $14.46 and a 200-day simple moving average of $16.53.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($1.93) EPS for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The business had revenue of $103.30 million during the quarter, compared to analysts’ expectations of $102.70 million. Cannae had a negative net margin of 121.15% and a negative return on equity of 31.78%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.74) EPS. Equities analysts forecast that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 5.0%. Cannae’s payout ratio is presently -6.73%.

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.