Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Comerica Bank

Comerica Bank reduced its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 106,526 shares of the company’s stock after selling 788 shares during the period. Comerica Bank’s holdings in Cannae were worth $2,116,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Private Management Group Inc. acquired a new stake in Cannae during the fourth quarter valued at $16,643,000. Northern Trust Corp grew its position in shares of Cannae by 1.8% during the 4th quarter. Northern Trust Corp now owns 609,504 shares of the company’s stock valued at $12,105,000 after acquiring an additional 10,895 shares during the period. Highbridge Capital Management LLC increased its stake in shares of Cannae by 12.0% in the 4th quarter. Highbridge Capital Management LLC now owns 581,088 shares of the company’s stock valued at $11,540,000 after purchasing an additional 62,437 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cannae by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company’s stock worth $8,666,000 after purchasing an additional 44,691 shares during the period. Finally, Crescent Grove Advisors LLC boosted its position in Cannae by 1.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 324,220 shares of the company’s stock worth $6,439,000 after purchasing an additional 3,957 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CNNE has been the subject of a number of recent analyst reports. Oppenheimer cut their price objective on Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reduced their price objective on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th.

Cannae Price Performance

NYSE:CNNE opened at $18.40 on Friday. The firm has a market cap of $1.16 billion, a P/E ratio of -3.83 and a beta of 1.03. The stock has a 50 day moving average of $17.59 and a two-hundred day moving average of $19.14. Cannae Holdings, Inc. has a 12 month low of $15.92 and a 12 month high of $22.36. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, June 16th. Cannae’s dividend payout ratio is currently -10.17%.

Cannae announced that its board has initiated a share buyback program on Tuesday, March 25th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.