Levin Capital Strategies L.P. Buys 128,000 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Levin Capital Strategies L.P. lifted its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 435.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,397 shares of the company's stock after purchasing an additional 128,000 shares during the period. Levin Capital Strategies L.P. owned approximately 0.25% of Cannae worth $3,126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. River Road Asset Management LLC raised its position in Cannae by 0.9% during the third quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company's stock valued at $107,977,000 after buying an additional 50,150 shares during the period. FMR LLC grew its stake in Cannae by 17.6% in the third quarter. FMR LLC now owns 2,653,854 shares of the company's stock valued at $50,582,000 after purchasing an additional 397,352 shares in the last quarter. State Street Corp grew its stake in Cannae by 1.6% in the third quarter. State Street Corp now owns 1,605,351 shares of the company's stock valued at $30,598,000 after purchasing an additional 25,403 shares in the last quarter. Private Management Group Inc. purchased a new position in Cannae in the fourth quarter valued at about $16,643,000. Finally, JPMorgan Chase & Co. grew its stake in Cannae by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company's stock valued at $8,666,000 after purchasing an additional 44,691 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered their target price on Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th.

Remove Ads

Cannae Stock Up 0.6 %

NYSE CNNE traded up $0.12 on Wednesday, reaching $18.95. The stock had a trading volume of 385,463 shares, compared to its average volume of 376,140. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -3.94 and a beta of 0.86. The business has a 50 day moving average price of $19.45 and a 200 day moving average price of $19.69. Cannae Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $22.99. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid 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 2.53%. Cannae's dividend payout ratio (DPR) is presently -10.17%.

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.