Cannae Holdings, Inc. $CNNE Stock Position Decreased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 32.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,288 shares of the company’s stock after selling 7,214 shares during the period. DAVENPORT & Co LLC’s holdings in Cannae were worth $319,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC lifted its holdings in shares of Cannae by 6.3% in the first quarter. Park Avenue Securities LLC now owns 13,089 shares of the company’s stock valued at $240,000 after purchasing an additional 777 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Cannae by 81.4% in the first quarter. Spire Wealth Management now owns 4,100 shares of the company’s stock valued at $75,000 after purchasing an additional 1,840 shares in the last quarter. Poehling Capital Management INC. lifted its holdings in shares of Cannae by 6.9% in the first quarter. Poehling Capital Management INC. now owns 773,490 shares of the company’s stock valued at $14,178,000 after purchasing an additional 50,025 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Cannae in the first quarter valued at $261,000. Finally, Trexquant Investment LP purchased a new stake in shares of Cannae in the first quarter valued at $795,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Price Performance

Shares of NYSE:CNNE opened at $18.12 on Monday. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -2.70 and a beta of 1.09. Cannae Holdings, Inc. has a 1 year low of $15.91 and a 1 year high of $22.36. The business has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $19.04.

Cannae Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This is a positive change from Cannae’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 3.3%. Cannae’s dividend payout ratio (DPR) is currently -8.96%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Cannae from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cannae in a report on Saturday, September 27th. Finally, Zacks Research lowered Cannae from a “hold” rating to a “strong sell” rating in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.00.

Insider Buying and Selling

In other Cannae news, Director Frank R. Martire sold 106,855 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $18.63, for a total transaction of $1,990,708.65. Following the transaction, the director directly owned 26,478 shares of the company’s stock, valued at $493,285.14. This represents a 80.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.90% of the stock is owned by insiders.

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.