Deutsche Bank AG Makes New $1.58 Million Investment in Cannae Holdings, Inc. $CNNE

Key Points

• Deutsche Bank acquired 109,787 shares of Cannae Holdings in the second quarter, valued at approximately $1.58 million, while institutional investors collectively owned 88.12% of the company.
• Analyst sentiment remains mixed, with Cannae holding a consensus rating of “Hold” and an average price target of $16.50; RBC maintained an “outperform” rating with a $16 target.
• Cannae reported quarterly EPS of $0.86, well above the $0.42 loss analysts expected, and declared a quarterly dividend of $0.15 per share, implying a 3.8% annualized yield.

Deutsche Bank AG bought a new stake in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 109,787 shares of the company's stock, valued at approximately $1,581,000. Deutsche Bank AG owned about 0.25% of Cannae at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in Cannae in the second quarter worth approximately $1,062,000. First Trust Advisors LP purchased a new position in shares of Cannae during the 1st quarter worth $936,000. Gabelli Funds LLC grew its holdings in shares of Cannae by 90.4% during the 1st quarter. Gabelli Funds LLC now owns 191,152 shares of the company's stock worth $2,173,000 after purchasing an additional 90,741 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Cannae during the 1st quarter worth about $1,258,000. Finally, Private Management Group Inc. increased its position in shares of Cannae by 8.5% during the 4th quarter. Private Management Group Inc. now owns 1,821,685 shares of the company's stock worth $28,655,000 after purchasing an additional 142,025 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Analysts Set New Price Targets

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

Cannae Stock Up 1.2%

Shares of NYSE:CNNE opened at $15.64 on Friday. The firm has a market capitalization of $678.31 million, a PE ratio of -5.18 and a beta of 1.20. Cannae Holdings, Inc. has a 1 year low of $10.46 and a 1 year high of $19.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50-day moving average is $14.79 and its two-hundred day moving average is $13.60.

Cannae (NYSE:CNNE - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of ($0.42) by $1.28. The business had revenue of $102.20 million during the quarter, compared to analyst estimates of $99.65 million. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%.

Cannae Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.8%. Cannae's dividend payout ratio is currently -19.87%.

Cannae Company 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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