State Street Corp Boosts Stock Position in Cannae Holdings, Inc. (NYSE:CNNE)

State Street Corp raised its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,605,351 shares of the company's stock after buying an additional 25,403 shares during the quarter. State Street Corp owned about 2.56% of Cannae worth $30,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNNE. Innealta Capital LLC bought a new position in shares of Cannae in the second quarter worth $48,000. nVerses Capital LLC bought a new position in Cannae in the 2nd quarter worth about $71,000. Quest Partners LLC raised its holdings in shares of Cannae by 18.1% in the 2nd quarter. Quest Partners LLC now owns 50,054 shares of the company's stock valued at $908,000 after acquiring an additional 7,686 shares in the last quarter. Factorial Partners LLC boosted its position 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 during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Cannae by 7.0% during the second quarter. American Century Companies Inc. now owns 123,574 shares of the company's stock worth $2,242,000 after purchasing an additional 8,052 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Cannae Price Performance

Shares of CNNE traded up $0.30 during midday trading on Friday, reaching $19.99. The stock had a trading volume of 651,199 shares, compared to its average volume of 511,275. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -4.16 and a beta of 0.85. The company's 50-day moving average is $20.33 and its 200 day moving average is $19.38. Cannae Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $22.99.

Cannae (NYSE:CNNE - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). The business 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 firm's revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.18) earnings per share. On average, equities analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

Cannae Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.12 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.40%. Cannae's dividend payout ratio is currently -9.98%.

Analyst Ratings Changes

Separately, Royal Bank of Canada lifted their target price on shares of Cannae from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th.

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.