Legal & General Group Plc Purchases Shares of 101,406 Cannae Holdings, Inc. $CNNE

Legal & General Group Plc purchased a new stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 101,406 shares of the company’s stock, valued at approximately $1,460,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNNE. The Manufacturers Life Insurance Company bought a new position in Cannae during the second quarter valued at about $164,000. Sanctuary Advisors LLC bought a new stake in Cannae in the second quarter worth about $401,000. Evolve Private Wealth LLC acquired a new stake in Cannae in the 2nd quarter valued at about $413,000. Ieq Capital LLC acquired a new stake in Cannae in the 2nd quarter valued at about $564,000. Finally, Callan Family Office LLC bought a new position in shares of Cannae during the 2nd quarter valued at about $211,000. Institutional investors own 88.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Cannae in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Cannae from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Cannae from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.50.

Cannae Price Performance

NYSE CNNE opened at $15.82 on Monday. The company has a 50 day simple moving average of $14.97 and a 200-day simple moving average of $13.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $686.11 million, a price-to-earnings ratio of -5.24 and a beta of 1.21. Cannae Holdings, Inc. has a 52-week low of $10.46 and a 52-week high of $19.88.

Cannae (NYSE:CNNE) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $1.28. Cannae had a negative net margin of 38.18% and a negative return on equity of 14.10%. The business had revenue of $102.20 million during the quarter, compared to analysts’ expectations 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 dividend on an annualized basis and a dividend yield of 3.8%. Cannae’s dividend payout ratio (DPR) is -19.87%.

Cannae Company Profile

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.