Cannae Holdings, Inc. (NYSE:CNNE) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 31.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 263,659 shares of the company’s stock after purchasing an additional 62,987 shares during the quarter. Bank of New York Mellon Corp owned 0.42% of Cannae worth $5,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNNE. Spire Wealth Management acquired a new stake in shares of Cannae during the fourth quarter valued at about $45,000. Oakview Capital Management L.P. acquired a new stake in Cannae in the 3rd quarter valued at approximately $67,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Cannae during the fourth quarter worth $76,000. R Squared Ltd acquired a new stake in shares of Cannae in the fourth quarter valued at $78,000. Finally, Blue Trust Inc. increased its stake in Cannae by 457.9% during the fourth quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock worth $94,000 after purchasing an additional 4,062 shares during the period. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cannae Price Performance

Shares of NYSE CNNE opened at $16.55 on Tuesday. The stock’s 50-day simple moving average is $18.96 and its 200-day simple moving average is $19.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market capitalization of $1.04 billion, a PE ratio of -3.44 and a beta of 0.86. Cannae Holdings, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $22.99.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 2.90%. Cannae’s dividend payout ratio is presently -10.17%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Oppenheimer decreased their price target on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 7th.

About Cannae

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.