Deutsche Bank AG Acquires 11,917 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Deutsche Bank AG boosted its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,018 shares of the company’s stock after buying an additional 11,917 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Cannae worth $1,093,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in shares of Cannae during the 4th quarter worth $45,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Cannae in the 4th quarter worth $76,000. R Squared Ltd purchased a new position in Cannae during the fourth quarter valued at $78,000. Nomura Asset Management Co. Ltd. grew its holdings 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 purchasing an additional 2,436 shares during the period. Finally, Blue Trust Inc. grew its holdings in Cannae by 457.9% during the fourth quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock valued at $94,000 after purchasing an additional 4,062 shares during the period. 88.12% of the stock is currently owned by institutional investors.

Cannae Stock Up 0.2%

CNNE opened at $17.81 on Monday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -3.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The firm’s fifty day moving average is $17.81 and its 200 day moving average is $19.02. Cannae Holdings, Inc. has a fifty-two week low of $15.92 and a fifty-two week high of $22.36.

Cannae (NYSE:CNNE) last posted its quarterly 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 net margin of 68.61% and a negative return on equity of 8.26%. The business had revenue of $103.20 million for the quarter, compared to the consensus estimate of $105.30 million. During the same period in the prior year, the business earned ($1.27) earnings per share. Cannae’s revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts forecast that Cannae Holdings, Inc. will post -3.14 earnings per share for the current fiscal year.

Cannae declared that its board has approved a share buyback program on Tuesday, March 25th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Cannae Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, June 16th. Cannae’s dividend payout ratio (DPR) is presently -9.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CNNE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Cannae in a research report on Wednesday, May 14th. Oppenheimer decreased their target price on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th.

Cannae 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.