Legal & General Group Plc Takes Position in Cannae Holdings, Inc. $CNNE

Key Points

• Legal & General Group Plc purchased 101,406 shares of Cannae Holdings during the second quarter, valued at approximately $1.46 million and representing about 0.23% of the company. Institutional investors collectively own 88.12% of Cannae.
• Cannae reported quarterly revenue of $102.2 million and earnings of $0.86 per share, beating analysts’ expectations, although it continues to post negative net margins and return on equity.
• The company declared a quarterly dividend of $0.15 per share, equivalent to a $0.60 annualized payout and a 3.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $16.50.

Legal & General Group Plc purchased a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 101,406 shares of the company's stock, valued at approximately $1,460,000. Legal & General Group Plc owned approximately 0.23% of Cannae at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Cannae during the second quarter valued at $59,496,000. Assenagon Asset Management S.A. bought a new position in shares of Cannae in the 2nd quarter worth about $1,062,000. First Trust Advisors LP acquired a new position in shares of Cannae in the 1st quarter valued at about $936,000. Gabelli Funds LLC boosted its holdings in shares of Cannae by 90.4% in the 1st quarter. Gabelli Funds LLC now owns 191,152 shares of the company's stock valued at $2,173,000 after buying an additional 90,741 shares during the period. Finally, Fifth Third Bancorp bought a new stake in shares of Cannae during the 1st quarter valued at about $1,258,000. 88.12% of the stock is currently owned by institutional investors.

Cannae Trading Down 0.1%

Shares of CNNE stock opened at $15.82 on Monday. Cannae Holdings, Inc. has a 1 year low of $10.46 and a 1 year high of $19.88. The firm has a market capitalization of $686.11 million, a PE ratio of -5.24 and a beta of 1.21. The stock has a fifty day moving average of $14.97 and a two-hundred day moving average of $13.67. 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 (NYSE:CNNE - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $1.28. Cannae had a negative return on equity of 14.10% and a negative net margin of 38.18%.The company had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.65 million.

Cannae Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.8%. Cannae's dividend payout ratio (DPR) is presently -19.87%.

Analysts Set New Price Targets

CNNE has been the topic of several research reports. Wall Street Zen upgraded shares of Cannae from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised Cannae from a "sell (d-)" rating to a "sell (d)" rating in a report on Wednesday, August 26th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $16.00 target price on shares of Cannae in a report on Tuesday, August 11th. 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $16.50.

About Cannae

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.

Want to see what other hedge funds are holding CNNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cannae Holdings, Inc. (NYSE:CNNE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.