BlackRock Inc. Purchases New Position in Cannae Holdings, Inc. $CNNE

BlackRock Inc. bought a new position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,131,651 shares of the company's stock, valued at approximately $59,496,000. BlackRock Inc. owned 9.40% of Cannae at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cannae by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company's stock worth $613,000 after acquiring an additional 1,405 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cannae by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 299,843 shares of the company's stock valued at $5,496,000 after acquiring an additional 11,788 shares during the last quarter. Jane Street Group LLC lifted its holdings in Cannae by 95.4% in the first quarter. Jane Street Group LLC now owns 54,393 shares of the company's stock valued at $997,000 after acquiring an additional 26,550 shares during the last quarter. Quantbot Technologies LP acquired a new position in Cannae in the second quarter valued at approximately $62,000. Finally, Jump Financial LLC grew its position in Cannae by 353.3% in the second quarter. Jump Financial LLC now owns 64,606 shares of the company's stock worth $1,347,000 after acquiring an additional 50,353 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

Cannae Price Performance

Cannae stock opened at $15.56 on Tuesday. The company's 50 day simple moving average is $14.84 and its 200-day simple moving average is $13.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.24 and a current ratio of 1.24. Cannae Holdings, Inc. has a 1 year low of $10.46 and a 1 year high of $19.88. The company has a market capitalization of $674.84 million, a price-to-earnings ratio of -5.15 and a beta of 1.20.

Cannae (NYSE:CNNE - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.86 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $99.65 million.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 3.9%. Cannae's dividend payout ratio is -19.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CNNE shares. Weiss Ratings raised Cannae from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, August 26th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Cannae in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded Cannae from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $16.50.

Cannae Profile

Cannae Holdings, Inc NYSE: CNNE is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae's investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.

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