Comerica Bank Has $1.49 Million Stock Position in Cannae Holdings, Inc. $CNNE

Key Points

• Comerica Bank reduced its holdings in Cannae Holdings, Inc. by 23.6%, owning 81,384 shares valued at approximately $1.49 million.
• Royal Bank Of Canada raised its target price on Cannae shares from $22.00 to $26.00, maintaining an "outperform" rating.
• Cannae recently announced an increased quarterly dividend of $0.15 per share, representing a yield of 3.2% and up from the previous dividend of $0.12.

Comerica Bank decreased its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,384 shares of the company's stock after selling 25,142 shares during the quarter. Comerica Bank owned 0.13% of Cannae worth $1,492,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Park Avenue Securities LLC grew its stake 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 worth $240,000 after purchasing an additional 777 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cannae by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company's stock worth $637,000 after purchasing an additional 1,151 shares in the last quarter. Crescent Grove Advisors LLC grew its stake in shares of Cannae by 0.4% in the first quarter. Crescent Grove Advisors LLC now owns 325,479 shares of the company's stock worth $5,966,000 after purchasing an additional 1,259 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Cannae by 460.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the company's stock worth $38,000 after purchasing an additional 1,700 shares in the last quarter. Finally, 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 buying an additional 1,840 shares during the period. Institutional investors own 88.12% of the company's stock.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada upped their price objective on Cannae from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $24.00.

Insider Activity at Cannae

In related news, Director Frank R. Martire sold 26,478 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total transaction of $487,989.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by corporate insiders.

Cannae Trading Up 1.0%

Shares of NYSE CNNE traded up $0.19 during mid-day trading on Tuesday, hitting $18.85. 154,782 shares of the company traded hands, compared to its average volume of 656,216. Cannae Holdings, Inc. has a 1 year low of $15.91 and a 1 year high of $22.36. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.82 and a beta of 1.08. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $20.04 and a two-hundred day moving average of $18.93.

Cannae Increases Dividend

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

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.