Cannae Holdings, Inc. (NYSE:CNNE) Position Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 1.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 100,181 shares of the company’s stock after selling 1,506 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.16% of Cannae worth $1,909,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CNNE. Jane Street Group LLC increased its stake in Cannae by 429.2% in the 1st quarter. Jane Street Group LLC now owns 378,182 shares of the company’s stock worth $8,411,000 after purchasing an additional 306,716 shares in the last quarter. Russell Investments Group Ltd. increased its position in Cannae by 17.8% in the 1st quarter. Russell Investments Group Ltd. now owns 226,852 shares of the company’s stock worth $5,045,000 after buying an additional 34,246 shares during the period. Caxton Associates LP bought a new position in Cannae in the 1st quarter worth approximately $751,000. Epoch Investment Partners Inc. increased its position in Cannae by 39.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 473,405 shares of the company’s stock worth $10,529,000 after buying an additional 134,071 shares during the period. Finally, Rubric Capital Management LP increased its position in shares of Cannae by 17.8% during the second quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock valued at $25,945,000 after purchasing an additional 216,031 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their price objective on Cannae from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday.

Cannae Price Performance

Shares of CNNE stock opened at $20.29 on Monday. The stock’s fifty day simple moving average is $19.38 and its 200 day simple moving average is $19.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 1.01. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -4.22 and a beta of 0.87. Cannae Holdings, Inc. has a one year low of $16.94 and a one year high of $22.99.

Cannae (NYSE:CNNE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of ($0.22). The company had revenue of $113.90 million for the quarter, compared to analyst estimates of $105.67 million. Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The business’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.18) earnings per share. On average, analysts expect that Cannae Holdings, Inc. will post -2.97 earnings per share for the current fiscal year.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a yield of 2.37%. Cannae’s dividend payout ratio is presently -9.98%.

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.