Vanguard Group Inc. Buys 205,785 Shares of Cannae Holdings, Inc. $CNNE

Vanguard Group Inc. increased its stake in Cannae Holdings, Inc. (NYSE:CNNE) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,844,675 shares of the company’s stock after purchasing an additional 205,785 shares during the period. Vanguard Group Inc. owned approximately 9.30% of Cannae worth $107,133,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNNE. Levin Capital Strategies L.P. boosted its stake in Cannae by 22.4% in the first quarter. Levin Capital Strategies L.P. now owns 192,594 shares of the company’s stock worth $3,530,000 after buying an additional 35,197 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Cannae in the first quarter worth approximately $7,790,000. XTX Topco Ltd boosted its stake in Cannae by 470.9% in the first quarter. XTX Topco Ltd now owns 61,541 shares of the company’s stock worth $1,128,000 after buying an additional 50,762 shares in the last quarter. Private Management Group Inc. boosted its stake in Cannae by 91.1% in the first quarter. Private Management Group Inc. now owns 1,601,334 shares of the company’s stock worth $29,352,000 after buying an additional 763,324 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Cannae in the first quarter worth approximately $1,507,000. 88.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upped their target price on Cannae from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $24.00.

Cannae Stock Performance

NYSE:CNNE opened at $18.50 on Friday. The firm has a market cap of $1.04 billion, a PE ratio of -2.76 and a beta of 1.06. Cannae Holdings, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $22.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.78 and a current ratio of 2.78. The business has a 50 day moving average price of $20.40 and a 200-day moving average price of $19.02.

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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Cannae’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, September 16th. Cannae’s payout ratio is currently -7.16%.

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.