Nuveen Asset Management LLC Has $17.22 Million Stock Position in Cannae Holdings, Inc. (NYSE:CNNE)

Nuveen Asset Management LLC increased its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 53.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 866,870 shares of the company's stock after buying an additional 301,670 shares during the period. Nuveen Asset Management LLC owned about 1.38% of Cannae worth $17,216,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in Cannae during the 4th quarter worth $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Cannae in the 4th quarter valued at about $76,000. R Squared Ltd acquired a new position in shares of Cannae in the 4th quarter valued at about $78,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Cannae by 133.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company's stock valued at $85,000 after buying an additional 2,436 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Cannae by 457.9% in the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock valued at $94,000 after buying an additional 4,062 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $22.00 price target on shares of Cannae in a report on Wednesday, May 14th. Oppenheimer cut their price objective on shares of Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th.

Cannae Price Performance

Shares of CNNE stock traded up $0.21 during midday trading on Thursday, reaching $18.57. 999,897 shares of the company were exchanged, compared to its average volume of 569,875. Cannae Holdings, Inc. has a 12 month low of $15.91 and a 12 month high of $22.36. The company has a market cap of $1.17 billion, a P/E ratio of -3.86 and a beta of 1.03. The company's 50 day moving average price is $17.83 and its two-hundred day moving average price is $18.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55.

Cannae (NYSE:CNNE - Get Free Report) last released its 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 return on equity of 8.26% and a negative net margin of 68.61%. The business had revenue of $103.20 million during the quarter, compared to the consensus estimate of $105.30 million. During the same quarter in the previous year, the firm earned ($1.27) earnings per share. The firm's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, sell-side analysts expect 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. Shareholders of record on Monday, June 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Monday, June 16th. Cannae's dividend payout ratio is -9.13%.

Cannae declared that its board has approved a stock buyback plan on Tuesday, March 25th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.