Bank of America Corp DE Has $5.99 Million Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Bank of America Corp DE trimmed its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 301,508 shares of the company's stock after selling 34,819 shares during the period. Bank of America Corp DE owned approximately 0.48% of Cannae worth $5,988,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CNNE. Barclays PLC raised its stake in shares of Cannae by 221.9% in the third quarter. Barclays PLC now owns 95,378 shares of the company's stock valued at $1,818,000 after acquiring an additional 65,749 shares in the last quarter. SG Americas Securities LLC raised its stake in Cannae by 9.9% in the fourth quarter. SG Americas Securities LLC now owns 20,102 shares of the company's stock valued at $399,000 after buying an additional 1,817 shares in the last quarter. Blue Trust Inc. raised its stake in Cannae by 457.9% in the fourth quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock valued at $94,000 after buying an additional 4,062 shares in the last quarter. R Squared Ltd acquired a new stake in Cannae in the fourth quarter valued at $78,000. Finally, Spire Wealth Management acquired a new stake in Cannae in the fourth quarter valued at $45,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CNNE shares. Oppenheimer cut their price target on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $22.00 price objective on shares of Cannae in a report on Wednesday, May 14th.

Cannae Trading Down 1.0%

Shares of NYSE CNNE traded down $0.19 during trading on Friday, hitting $18.66. 822,119 shares of the company traded hands, compared to its average volume of 466,435. The company has a 50-day moving average price of $17.82 and a 200-day moving average price of $18.94. 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 1 year low of $15.92 and a 1 year high of $22.36. The firm has a market capitalization of $1.17 billion, a P/E ratio of -3.88 and a beta of 1.03.

Cannae (NYSE:CNNE - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.03). Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. The firm had revenue of $103.20 million during the quarter, compared to analyst estimates of $105.30 million. During the same quarter in the prior year, the firm earned ($1.27) EPS. The business's quarterly revenue was down 6.8% compared to the same quarter last year. On average, equities analysts predict that Cannae Holdings, Inc. will post -3.14 EPS for the current year.

Cannae Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, June 16th. Cannae's dividend payout ratio (DPR) is -9.13%.

Cannae declared that its board has initiated a stock repurchase plan on Tuesday, March 25th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Cannae Company 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.