Bank of New York Mellon Corp Grows Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Bank of New York Mellon Corp boosted its holdings in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 31.4% during the 4th quarter, HoldingsChannel reports. The firm owned 263,659 shares of the company’s stock after purchasing an additional 62,987 shares during the period. Bank of New York Mellon Corp’s holdings in Cannae were worth $5,236,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in shares of Cannae during the fourth quarter worth approximately $45,000. Oakview Capital Management L.P. acquired a new position in Cannae in the 3rd quarter valued at $67,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Cannae during the 4th quarter worth $76,000. R Squared Ltd acquired a new stake in shares of Cannae in the 4th quarter worth $78,000. Finally, Blue Trust Inc. boosted its holdings in shares of Cannae by 457.9% in the fourth quarter. Blue Trust Inc. now owns 4,949 shares of the company’s stock valued at $94,000 after acquiring an additional 4,062 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cannae Price Performance

Shares of NYSE CNNE opened at $16.55 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. Cannae Holdings, Inc. has a one year low of $15.99 and a one year high of $22.99. The firm has a market capitalization of $1.04 billion, a P/E ratio of -3.44 and a beta of 0.86. The company’s fifty day moving average is $18.96 and its two-hundred day moving average is $19.53.

Cannae Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 2.90%. Cannae’s payout ratio is currently -10.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CNNE shares. Oppenheimer reduced their price objective on shares of Cannae from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reduced their price target on Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th.

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.