KLP Kapitalforvaltning AS Increases Stock Position in Cannae Holdings, Inc. $CNNE

KLP Kapitalforvaltning AS raised its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 25.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,800 shares of the company’s stock after buying an additional 2,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Cannae were worth $267,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management boosted its position in Cannae by 81.4% during the 1st quarter. Spire Wealth Management now owns 4,100 shares of the company’s stock valued at $75,000 after buying an additional 1,840 shares during the period. Poehling Capital Management INC. boosted its position in Cannae by 6.9% during the 1st quarter. Poehling Capital Management INC. now owns 773,490 shares of the company’s stock valued at $14,178,000 after buying an additional 50,025 shares during the period. Jump Financial LLC purchased a new stake in shares of Cannae in the 1st quarter worth about $261,000. Trexquant Investment LP purchased a new stake in shares of Cannae in the 1st quarter worth about $795,000. Finally, Vanguard Group Inc. lifted its position in shares of Cannae by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 5,844,675 shares of the company’s stock worth $107,133,000 after purchasing an additional 205,785 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a research report on Tuesday, October 14th. Royal Bank Of Canada raised their target price on shares of Cannae from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Finally, Zacks Research raised shares of Cannae from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.00.

Cannae Trading Up 2.3%

Shares of NYSE CNNE opened at $18.71 on Tuesday. Cannae Holdings, Inc. has a 1 year low of $15.91 and a 1 year high of $22.36. The stock has a market cap of $1.05 billion, a P/E ratio of -2.79 and a beta of 1.09. The firm has a 50-day moving average of $18.58 and a 200 day moving average of $19.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.78 and a quick ratio of 2.78.

Cannae Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.15 per share. This is an increase from Cannae’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. Cannae’s dividend payout ratio is -8.96%.

Insider Transactions at Cannae

In related news, Director Frank R. Martire sold 106,855 shares of Cannae stock in a transaction dated 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 transaction, the director directly owned 26,478 shares of the company’s stock, valued at $493,285.14. This trade represents a 80.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by company insiders.

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.