Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 22.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,274 shares of the company’s stock after selling 4,211 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cannae were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CNNE. Saba Capital Management L.P. lifted its holdings in Cannae by 92.3% in the 4th quarter. Saba Capital Management L.P. now owns 2,219,230 shares of the company’s stock valued at $44,074,000 after purchasing an additional 1,065,083 shares in the last quarter. Newtyn Management LLC lifted its holdings in Cannae by 18.9% in the 4th quarter. Newtyn Management LLC now owns 1,890,000 shares of the company’s stock valued at $37,535,000 after purchasing an additional 300,000 shares in the last quarter. Carronade Capital Management LP lifted its holdings in Cannae by 145.5% in the 4th quarter. Carronade Capital Management LP now owns 1,728,926 shares of the company’s stock valued at $34,336,000 after purchasing an additional 1,024,663 shares in the last quarter. Private Management Group Inc. lifted its holdings in Cannae by 91.1% in the 1st quarter. Private Management Group Inc. now owns 1,601,334 shares of the company’s stock valued at $29,352,000 after purchasing an additional 763,324 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Cannae by 53.4% in the 4th quarter. Nuveen Asset Management LLC now owns 866,870 shares of the company’s stock valued at $17,216,000 after purchasing an additional 301,670 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Price Performance

NYSE:CNNE opened at $17.82 on Friday. Cannae Holdings, Inc. has a 12-month low of $15.91 and a 12-month high of $22.36. The company’s 50-day moving average is $20.56 and its two-hundred day moving average is $19.07. The company has a current ratio of 2.78, a quick ratio of 4.19 and a debt-to-equity ratio of 0.05. The firm has a market cap of $998.10 million, a price-to-earnings ratio of -2.66 and a beta of 1.06.

Cannae Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Cannae’s previous quarterly dividend of $0.12. Cannae’s dividend payout ratio is currently -7.16%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada upped their target price on shares of Cannae from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, July 10th.

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.