Cannae Holdings, Inc. (CNNE) To Go Ex-Dividend on December 17th

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Tuesday, November 4th. Shareholders of record on Wednesday, December 17th will be given a dividend of 0.15 per share on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, December 17th.

Cannae has a payout ratio of -56.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Cannae to earn ($1.17) per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of -51.3%.

Cannae Price Performance

NYSE CNNE opened at $16.87 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $831.55 million, a price-to-earnings ratio of -2.18 and a beta of 1.14. The company has a 50 day simple moving average of $17.19 and a 200-day simple moving average of $18.83. Cannae has a 52-week low of $15.05 and a 52-week high of $21.96.

Cannae (NYSE:CNNE) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.94). Cannae had a negative net margin of 108.39% and a negative return on equity of 23.16%. The company had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $104.80 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts predict that Cannae will post -3.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cannae

Large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its position in Cannae by 12.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 107,894 shares of the company’s stock worth $2,000,000 after buying an additional 12,018 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Cannae by 50.6% during the 3rd quarter. Verition Fund Management LLC now owns 345,236 shares of the company’s stock worth $6,321,000 after acquiring an additional 115,952 shares in the last quarter. Lombard Odier Asset Management USA Corp increased its holdings in shares of Cannae by 14.5% during the 3rd quarter. Lombard Odier Asset Management USA Corp now owns 76,956 shares of the company’s stock valued at $1,409,000 after acquiring an additional 9,738 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Cannae by 88.2% during the 3rd quarter. Millennium Management LLC now owns 164,707 shares of the company’s stock valued at $3,016,000 after acquiring an additional 77,183 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Cannae by 70.8% in the 3rd quarter. Citadel Advisors LLC now owns 271,619 shares of the company’s stock valued at $4,973,000 after acquiring an additional 112,577 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

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.