Raymond James Financial Inc. Has $4.88 Million Stock Position in Cannae Holdings, Inc. $CNNE

Raymond James Financial Inc. lowered its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 266,093 shares of the company’s stock after selling 29,285 shares during the period. Raymond James Financial Inc. owned approximately 0.42% of Cannae worth $4,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CNNE. Price T Rowe Associates Inc. MD raised its holdings in shares of Cannae by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,231 shares of the company’s stock valued at $919,000 after purchasing an additional 3,643 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Cannae by 1.8% in the fourth quarter. Northern Trust Corp now owns 609,504 shares of the company’s stock valued at $12,105,000 after purchasing an additional 10,895 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Cannae by 27.6% in the fourth quarter. Deutsche Bank AG now owns 55,018 shares of the company’s stock valued at $1,093,000 after purchasing an additional 11,917 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Cannae during the fourth quarter worth about $10,174,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cannae by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company’s stock worth $637,000 after buying an additional 1,151 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Insider Activity at Cannae

In other Cannae news, Director Frank R. Martire sold 106,855 shares of Cannae stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $18.63, for a total transaction of $1,990,708.65. Following the completion of the sale, the director directly owned 26,478 shares in the company, valued at $493,285.14. The trade was a 80.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cannae Price Performance

CNNE stock opened at $18.53 on Friday. The firm has a 50 day moving average of $20.12 and a 200-day moving average of $18.96. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.05. Cannae Holdings, Inc. has a 12 month low of $15.91 and a 12 month high of $22.36. The firm has a market capitalization of $1.04 billion, a P/E ratio of -2.77 and a beta of 1.08.

Cannae Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Cannae’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, September 16th. Cannae’s dividend payout ratio (DPR) is -7.16%.

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.