River Road Asset Management LLC Sells 71,491 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

River Road Asset Management LLC lowered its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,593,612 shares of the company's stock after selling 71,491 shares during the quarter. Cannae accounts for about 1.5% of River Road Asset Management LLC's investment portfolio, making the stock its 14th largest position. River Road Asset Management LLC owned about 8.92% of Cannae worth $111,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AlphaQuest LLC grew its holdings in shares of Cannae by 29.3% during the 4th quarter. AlphaQuest LLC now owns 29,880 shares of the company's stock worth $593,000 after purchasing an additional 6,774 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cannae during the 4th quarter worth approximately $5,866,000. Levin Capital Strategies L.P. grew its holdings in shares of Cannae by 435.4% during the 4th quarter. Levin Capital Strategies L.P. now owns 157,397 shares of the company's stock worth $3,126,000 after purchasing an additional 128,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cannae by 31.4% during the 4th quarter. Bank of New York Mellon Corp now owns 263,659 shares of the company's stock worth $5,236,000 after purchasing an additional 62,987 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Cannae by 29.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock worth $104,000 after purchasing an additional 1,198 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

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Cannae Price Performance

CNNE traded down $0.14 during trading on Thursday, hitting $16.10. The company's stock had a trading volume of 1,035,733 shares, compared to its average volume of 463,442. The firm's 50 day moving average price is $19.10 and its two-hundred day moving average price is $19.58. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. Cannae Holdings, Inc. has a 12 month low of $15.99 and a 12 month high of $22.99. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.35 and a beta of 0.86.

Cannae Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 2.98%. Cannae's payout ratio is -10.17%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Oppenheimer decreased their price objective on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Royal Bank of Canada cut their target price on Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th.

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.