Cannae Holdings, Inc. (NYSE:CNNE) Stock Holdings Boosted by State Street Corp

State Street Corp lifted its position in Cannae Holdings, Inc. (NYSE:CNNE) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,605,351 shares of the company’s stock after buying an additional 25,403 shares during the period. State Street Corp owned approximately 2.56% of Cannae worth $30,598,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in Cannae during the second quarter worth about $48,000. Oakview Capital Management L.P. acquired a new position in shares of Cannae in the 3rd quarter worth approximately $67,000. nVerses Capital LLC bought a new stake in shares of Cannae in the 2nd quarter worth approximately $71,000. Highbridge Capital Management LLC acquired a new stake in Cannae during the second quarter valued at approximately $91,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Cannae during the third quarter worth approximately $113,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Trading Up 1.5 %

Shares of NYSE CNNE opened at $19.99 on Friday. The business has a fifty day simple moving average of $20.33 and a 200-day simple moving average of $19.37. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -4.16 and a beta of 0.85. Cannae Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $22.99. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10.

Cannae (NYSE:CNNE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) EPS for the quarter, meeting analysts’ consensus estimates of ($0.22). The company had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The business’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.18) earnings per share. Sell-side analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, December 17th. Cannae’s dividend payout ratio is -9.98%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price target on Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th.

Cannae Company Profile

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.