Fifth Third Bancorp Takes Position in Cannae Holdings, Inc. $CNNE

Fifth Third Bancorp acquired a new position in Cannae Holdings, Inc. (NYSE:CNNE) during the first quarter, Holdings Channel reports. The firm acquired 110,620 shares of the company’s stock, valued at approximately $1,258,000.

Several other institutional investors have also modified their holdings of CNNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cannae by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,465 shares of the company’s stock worth $613,000 after acquiring an additional 1,405 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Cannae by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 299,843 shares of the company’s stock worth $5,496,000 after purchasing an additional 11,788 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Cannae by 95.4% in the 1st quarter. Jane Street Group LLC now owns 54,393 shares of the company’s stock worth $997,000 after purchasing an additional 26,550 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Cannae during the second quarter valued at approximately $62,000. Finally, Jump Financial LLC lifted its stake in Cannae by 353.3% during the second quarter. Jump Financial LLC now owns 64,606 shares of the company’s stock valued at $1,347,000 after purchasing an additional 50,353 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cannae Trading Up 2.4%

Cannae stock opened at $14.71 on Friday. Cannae Holdings, Inc. has a one year low of $10.46 and a one year high of $21.88. The company’s fifty day moving average price is $14.34 and its two-hundred day moving average price is $13.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.71 and a quick ratio of 1.71. The company has a market capitalization of $646.37 million, a price-to-earnings ratio of -1.88 and a beta of 1.20.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.30). Cannae had a negative net margin of 103.77% and a negative return on equity of 36.53%. The company had revenue of $96.20 million for the quarter, compared to analyst estimates of $99.77 million. During the same period in the prior year, the company posted ($1.81) EPS. The business’s revenue was down 6.8% on a year-over-year basis. On average, analysts forecast that Cannae Holdings, Inc. will post -2.4 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, June 16th. Cannae’s dividend payout ratio (DPR) is -7.68%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CNNE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cannae in a report on Monday, July 6th. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Cannae in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cannae in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.00.

Cannae Company Profile

Cannae Holdings, Inc (NYSE: CNNE) is a publicly traded diversified holding company that focuses on partnering with and investing in businesses across a range of industry sectors. The company seeks to identify attractive opportunities in both private and public markets, leveraging its capital resources and management expertise to support operational growth and value creation. Cannae’s investment strategy emphasizes companies in data and analytics, marketing services, healthcare technology, and payment processing.

Through its portfolio, Cannae holds controlling or significant minority stakes in companies that provide critical software, data and services to corporate clients.