UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 16,272 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 173,116 shares of the company's stock after purchasing an additional 16,272 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of Cannae worth $3,438,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Spire Wealth Management bought a new stake in shares of Cannae during the fourth quarter valued at about $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Cannae in the fourth quarter valued at approximately $76,000. Nomura Asset Management Co. Ltd. grew its stake in Cannae by 133.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company's stock valued at $85,000 after acquiring an additional 2,436 shares in the last quarter. Blue Trust Inc. increased its holdings in Cannae by 457.9% during the 4th quarter. Blue Trust Inc. now owns 4,949 shares of the company's stock worth $94,000 after acquiring an additional 4,062 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Cannae by 29.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock worth $104,000 after acquiring an additional 1,198 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

Cannae Price Performance

Shares of NYSE CNNE traded up $0.13 during midday trading on Friday, hitting $19.35. 704,908 shares of the company's stock were exchanged, compared to its average volume of 473,888. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. The business's fifty day moving average price is $17.87 and its two-hundred day moving average price is $18.90. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -4.02 and a beta of 1.00. Cannae Holdings, Inc. has a 12-month low of $15.92 and a 12-month high of $22.36.

Cannae (NYSE:CNNE - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.03). The company had revenue of $103.20 million for the quarter, compared to the consensus estimate of $105.30 million. Cannae had a negative net margin of 68.61% and a negative return on equity of 8.26%. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.27) earnings per share. As a group, research analysts forecast that Cannae Holdings, Inc. will post -3.14 EPS for the current fiscal year.

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

Cannae Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.48 annualized dividend and a yield of 2.48%. Cannae's dividend payout ratio (DPR) is presently -9.13%.

Wall Street Analysts Forecast Growth

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

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.