Cannae Holdings, Inc. (NYSE:CNNE) Stake Raised by State Street Corp

State Street Corp raised its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,605,351 shares of the company’s stock after acquiring an additional 25,403 shares during the quarter. State Street Corp’s holdings in Cannae were worth $30,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CNNE. Innealta Capital LLC acquired a new stake in shares of Cannae during the second quarter worth approximately $48,000. nVerses Capital LLC purchased a new stake in Cannae in the 2nd quarter worth approximately $71,000. Quest Partners LLC boosted its stake in shares of Cannae by 18.1% during the 2nd quarter. Quest Partners LLC now owns 50,054 shares of the company’s stock valued at $908,000 after buying an additional 7,686 shares during the period. Factorial Partners LLC grew its holdings in shares of Cannae by 242.6% during the 2nd quarter. Factorial Partners LLC now owns 184,177 shares of the company’s stock valued at $3,341,000 after acquiring an additional 130,422 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted 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 Trading Up 1.5 %

Shares of NYSE CNNE opened at $19.99 on Friday. The business has a 50 day simple moving average of $20.33 and a 200 day simple moving average of $19.37. Cannae Holdings, Inc. has a 52 week low of $16.94 and a 52 week high of $22.99. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -4.16 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55.

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

Cannae Dividend Announcement

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