Cannae Holdings, Inc. (CNNE) to Issue Quarterly Dividend of $0.15 on December 31st

Cannae Holdings, Inc. (NYSE:CNNE) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Thursday, December 17th will be given a dividend of $0.15 per share on Thursday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, December 17th.

Cannae has a dividend payout ratio of -56.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Cannae Price Performance

NYSE:CNNE opened at $17.86 on Friday. Cannae has a 1 year low of $10.46 and a 1 year high of $18.48. The firm’s fifty day simple moving average is $15.95 and its 200 day simple moving average is $14.26. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.07.

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

Hedge Funds Weigh In On Cannae

Several large investors have recently bought and sold shares of the stock. Nykredit A S bought a new position in Cannae in the second quarter worth $25,000. GAMMA Investing LLC increased its holdings in Cannae by 147.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $29,000 after buying an additional 1,195 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cannae in the 2nd quarter valued at $30,000. Essential Partners LLC raised its stake in shares of Cannae by 2,913.0% in the 1st quarter. Essential Partners LLC now owns 2,772 shares of the company’s stock valued at $32,000 after buying an additional 2,680 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Cannae in the 2nd quarter valued at $32,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

About Cannae

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.