Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 460.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,069 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cannae were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CNNE. Continental Advisors LLC grew its stake in shares of Cannae by 0.3% during the 4th quarter. Continental Advisors LLC now owns 239,623 shares of the company’s stock worth $4,759,000 after acquiring an additional 624 shares during the period. Park Avenue Securities LLC grew its position in shares of Cannae by 6.3% in the first quarter. Park Avenue Securities LLC now owns 13,089 shares of the company’s stock valued at $240,000 after purchasing an additional 777 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cannae by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,060 shares of the company’s stock valued at $637,000 after purchasing an additional 1,151 shares in the last quarter. Crescent Grove Advisors LLC grew its position in shares of Cannae by 0.4% in the first quarter. Crescent Grove Advisors LLC now owns 325,479 shares of the company’s stock valued at $5,966,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Spire Wealth Management grew its position in shares of Cannae by 81.4% in the first quarter. Spire Wealth Management now owns 4,100 shares of the company’s stock valued at $75,000 after purchasing an additional 1,840 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cannae Price Performance

Shares of NYSE CNNE opened at $17.93 on Friday. The stock has a market cap of $1.00 billion, a PE ratio of -2.68 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 4.19 and a current ratio of 2.78. The stock has a fifty day moving average of $20.59 and a 200-day moving average of $19.08.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). Cannae had a positive return on equity of 28.00% and a negative net margin of 94.12%. The business had revenue of $103.20 million during the quarter, compared to analysts’ expectations of $105.30 million. During the same quarter last year, the business posted ($1.27) EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Equities research analysts anticipate that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 3.3%. This is a boost 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%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lifted their price target on Cannae from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th.

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.