VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $689,000 Investment in Cannae Holdings, Inc. $CNNE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Cannae Holdings, Inc. (NYSE:CNNE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 44,900 shares of the company’s stock, valued at approximately $689,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.10% of Cannae at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Cannae by 1,086.2% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,013 shares of the company’s stock valued at $46,000 after acquiring an additional 2,759 shares in the last quarter. Sax Wealth Advisors LLC acquired a new stake in Cannae during the 3rd quarter valued at approximately $165,000. GAMMA Investing LLC grew its stake in Cannae by 64.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,301 shares of the company’s stock valued at $51,000 after purchasing an additional 1,293 shares in the last quarter. Engineers Gate Manager LP increased its holdings in Cannae by 31.4% during the 2nd quarter. Engineers Gate Manager LP now owns 72,630 shares of the company’s stock worth $1,046,000 after purchasing an additional 17,350 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Cannae in the 2nd quarter valued at approximately $116,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Stock Performance

NYSE:CNNE traded down $0.12 during trading hours on Friday, reaching $17.70. 372,346 shares of the stock were exchanged, compared to its average volume of 443,141. The stock has a market capitalization of $700.23 million, a P/E ratio of -5.86 and a beta of 1.19. The firm has a 50 day simple moving average of $15.99 and a 200-day simple moving average of $14.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.07. Cannae Holdings, Inc. has a 52 week low of $10.46 and a 52 week high of $18.48.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $1.28. The business had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.65 million. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, December 17th. Cannae’s dividend payout ratio is -19.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNNE. Royal Bank Of Canada raised their price target on shares of Cannae from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Wall Street Zen raised shares of Cannae from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings downgraded shares of Cannae from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.

Cannae Company Profile

Cannae Holdings, Inc is a diversified investment company that manages a portfolio of operating businesses and strategic investments. The company focuses on sectors including restaurants, financial services, payments, and business services, with the goal of building long-term value through active ownership and capital allocation.

Cannae has held interests in a range of companies, including restaurant operators, payment technology businesses, and providers of financial and business services.