Charles Schwab Investment Management Inc. Has $8.43 Million Stock Position in Cannae Holdings, Inc. $CNNE

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Cannae Holdings, Inc. by 15.2% in the first quarter, owning approximately $8.43 million worth of shares at the end of the period.
• Cannae Holdings recently increased its quarterly dividend from $0.12 to $0.15 per share, indicating a positive financial performance with an annualized yield of 3.2%.
• Analysts have a consensus "Buy" rating for Cannae, with Royal Bank of Canada raising its target price for the stock from $22.00 to $26.00.

Charles Schwab Investment Management Inc. cut its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 15.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 459,875 shares of the company's stock after selling 82,613 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.73% of Cannae worth $8,430,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNNE. Spire Wealth Management boosted its holdings in 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 acquiring an additional 1,840 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Cannae in the fourth quarter valued at approximately $122,000. GAMMA Investing LLC boosted its holdings in Cannae by 2,236.9% in the first quarter. GAMMA Investing LLC now owns 8,413 shares of the company's stock valued at $154,000 after acquiring an additional 8,053 shares during the last quarter. XTX Topco Ltd bought a new stake in Cannae in the fourth quarter valued at approximately $214,000. Finally, Voloridge Investment Management LLC bought a new stake in Cannae in the fourth quarter valued at approximately $230,000. 88.12% of the stock is currently owned by institutional investors.

Cannae Price Performance

Shares of NYSE:CNNE opened at $18.57 on Tuesday. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05. Cannae Holdings, Inc. has a twelve month low of $15.91 and a twelve month high of $22.36. The stock's 50 day moving average is $20.38 and its 200-day moving average is $19.00. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.77 and a beta of 1.06.

Cannae Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This is a positive change from Cannae's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. Cannae's payout ratio is currently -7.16%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada upped 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. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $24.00.

About Cannae

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.

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