River Road Asset Management LLC Reduces Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

River Road Asset Management LLC lessened its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,593,612 shares of the company’s stock after selling 71,491 shares during the period. Cannae accounts for approximately 1.5% of River Road Asset Management LLC’s portfolio, making the stock its 14th largest holding. River Road Asset Management LLC owned approximately 0.09% of Cannae worth $111,089,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CNNE. AlphaQuest LLC raised its position in shares of Cannae by 29.3% during the 4th quarter. AlphaQuest LLC now owns 29,880 shares of the company’s stock worth $593,000 after purchasing an additional 6,774 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Cannae during the fourth quarter worth $5,866,000. Levin Capital Strategies L.P. raised its holdings in shares of Cannae by 435.4% in the fourth quarter. Levin Capital Strategies L.P. now owns 157,397 shares of the company’s stock worth $3,126,000 after acquiring an additional 128,000 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cannae by 31.4% in the fourth quarter. Bank of New York Mellon Corp now owns 263,659 shares of the company’s stock valued at $5,236,000 after acquiring an additional 62,987 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Cannae by 29.6% in the fourth quarter. Global Retirement Partners LLC now owns 5,251 shares of the company’s stock valued at $104,000 after acquiring an additional 1,198 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cannae Trading Down 5.3 %

Shares of Cannae stock opened at $16.85 on Tuesday. Cannae Holdings, Inc. has a fifty-two week low of $16.71 and a fifty-two week high of $22.99. The business’s fifty day moving average is $19.31 and its two-hundred day moving average is $19.65. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.06 billion, a PE ratio of -3.50 and a beta of 0.86.

Cannae Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 2.85%. Cannae’s dividend payout ratio (DPR) is presently -10.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CNNE shares. Oppenheimer cut their target price on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank of Canada cut their price objective on shares of Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th.

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.