JPMorgan Chase & Co. Purchases 44,691 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

JPMorgan Chase & Co. lifted its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 10.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 454,688 shares of the company’s stock after purchasing an additional 44,691 shares during the quarter. JPMorgan Chase & Co. owned about 0.72% of Cannae worth $8,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CNNE. American Century Companies Inc. boosted its holdings in Cannae by 7.0% in the second quarter. American Century Companies Inc. now owns 123,574 shares of the company’s stock worth $2,242,000 after acquiring an additional 8,052 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Cannae by 11.7% in the second quarter. Envestnet Asset Management Inc. now owns 218,237 shares of the company’s stock worth $3,959,000 after acquiring an additional 22,859 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Cannae by 19.2% in the second quarter. Renaissance Technologies LLC now owns 225,600 shares of the company’s stock worth $4,092,000 after acquiring an additional 36,400 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Cannae in the second quarter worth $91,000. Finally, XTX Topco Ltd bought a new stake in Cannae in the second quarter worth $519,000. 88.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Cannae Trading Down 0.1 %

Shares of NYSE:CNNE opened at $18.67 on Tuesday. The company has a market cap of $1.17 billion, a P/E ratio of -3.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. Cannae Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $22.99. The stock’s fifty day moving average price is $20.44 and its 200-day moving average price is $19.60.

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

Cannae Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Tuesday, December 17th. Cannae’s dividend payout ratio (DPR) is presently -9.98%.

Cannae 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.