Stifel Financial Corp Has $606,000 Position in Cannae Holdings, Inc. (NYSE:CNNE)

Stifel Financial Corp cut its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,779 shares of the company’s stock after selling 2,222 shares during the quarter. Stifel Financial Corp owned approximately 0.05% of Cannae worth $606,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. River Road Asset Management LLC grew its stake in shares of Cannae by 0.9% in the third quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company’s stock valued at $107,977,000 after buying an additional 50,150 shares in the last quarter. FMR LLC grew its position in shares of Cannae by 17.6% in the 3rd quarter. FMR LLC now owns 2,653,854 shares of the company’s stock valued at $50,582,000 after acquiring an additional 397,352 shares during the period. Rubric Capital Management LP grew its position in shares of Cannae by 17.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock valued at $25,945,000 after acquiring an additional 216,031 shares during the period. AREX Capital Management LP increased its stake in shares of Cannae by 52.2% during the 2nd quarter. AREX Capital Management LP now owns 1,260,539 shares of the company’s stock worth $22,866,000 after purchasing an additional 432,260 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Cannae in the 2nd quarter valued at about $18,611,000. Institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

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

Cannae Stock Performance

Shares of NYSE CNNE opened at $19.97 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -4.15 and a beta of 0.85. The stock’s fifty day moving average price is $20.39 and its two-hundred day moving average price is $19.41. Cannae Holdings, Inc. has a one year low of $16.94 and a one year high of $22.99.

Cannae (NYSE:CNNE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The firm had revenue of $113.90 million for the quarter, compared to analyst estimates of $105.67 million. During the same quarter in the prior year, the business posted ($2.18) EPS. The business’s revenue was down 20.7% compared to the same quarter last year. On average, equities analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Announces Dividend

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

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.