JPMorgan Chase & Co. Boosts Position in Cannae Holdings, Inc. (NYSE:CNNE)

JPMorgan Chase & Co. boosted its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 454,688 shares of the company’s stock after acquiring an additional 44,691 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cannae were worth $8,666,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Oakview Capital Management L.P. purchased a new stake in Cannae in the third quarter worth about $67,000. Highbridge Capital Management LLC purchased a new stake in Cannae in the second quarter worth about $91,000. DekaBank Deutsche Girozentrale purchased a new stake in Cannae in the third quarter worth about $113,000. BNP Paribas Financial Markets increased its position in Cannae by 10.2% in the third quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company’s stock worth $236,000 after buying an additional 1,150 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Cannae in the third quarter worth about $244,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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 stock an “outperform” rating in a research report on Thursday, November 14th.

Cannae Stock Performance

NYSE:CNNE opened at $18.67 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. Cannae Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $22.99. The stock has a 50-day moving average price of $20.44 and a 200 day moving average price of $19.60. The stock has a market capitalization of $1.17 billion, a P/E ratio of -3.88 and a beta of 0.86.

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

Cannae Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Tuesday, December 17th. Cannae’s dividend payout ratio is currently -9.98%.

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.