Jane Street Group LLC Trims Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Jane Street Group LLC decreased its position in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 57.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,843 shares of the company's stock after selling 37,237 shares during the quarter. Jane Street Group LLC's holdings in Cannae were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Management Group Inc. bought a new position in shares of Cannae during the fourth quarter valued at about $16,643,000. Northern Trust Corp boosted its holdings in Cannae by 1.8% during the 4th quarter. Northern Trust Corp now owns 609,504 shares of the company's stock valued at $12,105,000 after acquiring an additional 10,895 shares during the period. Highbridge Capital Management LLC boosted its holdings in Cannae by 12.0% during the 4th quarter. Highbridge Capital Management LLC now owns 581,088 shares of the company's stock valued at $11,540,000 after acquiring an additional 62,437 shares during the period. Raymond James Financial Inc. bought a new position in Cannae during the 4th quarter worth approximately $5,866,000. Finally, Bank of New York Mellon Corp increased its stake in Cannae by 31.4% in the 4th quarter. Bank of New York Mellon Corp now owns 263,659 shares of the company's stock worth $5,236,000 after purchasing an additional 62,987 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Cannae Trading Down 1.0%

Shares of NYSE:CNNE traded down $0.19 during midday trading on Friday, hitting $18.66. 822,119 shares of the stock traded hands, compared to its average volume of 466,844. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $17.84 and its two-hundred day moving average is $18.97. The stock has a market capitalization of $1.17 billion, a PE ratio of -3.88 and a beta of 1.03. Cannae Holdings, Inc. has a one year low of $15.92 and a one year high of $22.36.

Cannae (NYSE:CNNE - Get Free Report) last released its quarterly earnings results 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 net margin of 68.61% and a negative return on equity of 8.26%. The business had revenue of $103.20 million for the quarter, compared to the consensus estimate of $105.30 million. During the same period in the previous year, the company earned ($1.27) EPS. The company's revenue for the quarter was down 6.8% on a year-over-year basis. As a group, research analysts forecast that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.57%. Cannae's dividend payout ratio is presently -9.13%.

Cannae announced that its board has authorized a stock repurchase plan on Tuesday, March 25th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

CNNE has been the subject of a number of analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $22.00 price objective on shares of Cannae in a research note on Wednesday, May 14th. Oppenheimer lowered their price target on shares of Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, March 7th.

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.