Cannae Holdings, Inc. $CNNE Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 32.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,288 shares of the company’s stock after selling 7,214 shares during the quarter. DAVENPORT & Co LLC’s holdings in Cannae were worth $319,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC increased its position in Cannae by 6.3% in the 1st quarter. Park Avenue Securities LLC now owns 13,089 shares of the company’s stock valued at $240,000 after acquiring an additional 777 shares during the period. Spire Wealth Management increased its position in Cannae by 81.4% in the 1st quarter. Spire Wealth Management now owns 4,100 shares of the company’s stock valued at $75,000 after acquiring an additional 1,840 shares during the period. Poehling Capital Management INC. increased its position in Cannae by 6.9% in the 1st quarter. Poehling Capital Management INC. now owns 773,490 shares of the company’s stock valued at $14,178,000 after acquiring an additional 50,025 shares during the period. Jump Financial LLC acquired a new stake in Cannae in the 1st quarter valued at approximately $261,000. Finally, Trexquant Investment LP acquired a new stake in Cannae in the 1st quarter valued at approximately $795,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNNE has been the topic of several analyst reports. Zacks Research cut Cannae from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 11th. Royal Bank Of Canada increased their price target on Cannae from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cannae in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Cannae Stock Performance

Shares of NYSE CNNE opened at $18.12 on Monday. The firm has a market cap of $1.01 billion, a P/E ratio of -2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.78 and a current ratio of 2.78. The stock has a fifty day moving average price of $18.78 and a two-hundred day moving average price of $19.04. Cannae Holdings, Inc. has a 1 year low of $15.91 and a 1 year high of $22.36.

Cannae Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 3.3%. This is a boost from Cannae’s previous quarterly dividend of $0.12. Cannae’s dividend payout ratio is -8.96%.

Insider Buying and Selling at Cannae

In other news, Director Frank R. Martire sold 26,478 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.43, for a total transaction of $487,989.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is currently owned by corporate insiders.

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.