PNC Financial Services Group Inc. Sells 10,901 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

PNC Financial Services Group Inc. cut its holdings in Cannae Holdings, Inc. (NYSE:CNNE) by 43.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,924 shares of the company’s stock after selling 10,901 shares during the period. PNC Financial Services Group Inc.’s holdings in Cannae were worth $272,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. raised its stake in Cannae by 22.2% in the third quarter. SRS Capital Advisors Inc. now owns 3,679 shares of the company’s stock valued at $69,000 after purchasing an additional 669 shares in the last quarter. Shayne & Jacobs LLC lifted its holdings in shares of Cannae by 0.9% during the 4th quarter. Shayne & Jacobs LLC now owns 82,706 shares of the company’s stock worth $1,614,000 after acquiring an additional 710 shares during the period. Rhumbline Advisers boosted its position in shares of Cannae by 1.0% during the 3rd quarter. Rhumbline Advisers now owns 117,965 shares of the company’s stock worth $2,199,000 after acquiring an additional 1,219 shares in the last quarter. Simplex Trading LLC bought a new position in Cannae in the fourth quarter valued at approximately $27,000. Finally, Corbyn Investment Management Inc. MD raised its position in Cannae by 6.2% during the fourth quarter. Corbyn Investment Management Inc. MD now owns 30,599 shares of the company’s stock valued at $597,000 after purchasing an additional 1,777 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Insider Transactions at Cannae

In related news, CEO Richard N. Massey sold 50,000 shares of Cannae stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $20.82, for a total transaction of $1,041,000.00. Following the sale, the chief executive officer now directly owns 354,367 shares in the company, valued at approximately $7,377,920.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Richard N. Massey sold 23,050 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $20.57, for a total value of $474,138.50. Following the completion of the sale, the chief executive officer now directly owns 404,367 shares in the company, valued at $8,317,829.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard N. Massey sold 50,000 shares of Cannae stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $20.82, for a total value of $1,041,000.00. Following the transaction, the chief executive officer now directly owns 354,367 shares in the company, valued at $7,377,920.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,802 shares of company stock worth $2,603,112. Insiders own 10.90% of the company’s stock.

Cannae Trading Up 0.9 %

Shares of Cannae stock opened at $18.14 on Monday. The firm has a market capitalization of $1.14 billion, a PE ratio of -3.33 and a beta of 0.92. The company has a current ratio of 3.32, a quick ratio of 3.06 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $19.01 and its 200 day moving average is $20.20. Cannae Holdings, Inc. has a 1 year low of $15.93 and a 1 year high of $22.99.

Cannae (NYSE:CNNE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.94). Cannae had a negative return on equity of 16.50% and a negative net margin of 74.62%. The company had revenue of $110.70 million for the quarter, compared to analyst estimates of $126.23 million. During the same quarter last year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was down 28.3% on a year-over-year basis. Equities research analysts forecast that Cannae Holdings, Inc. will post -1.8 earnings per share for the current fiscal year.

Cannae Dividend Announcement

The company also recently declared a — dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 14th. Cannae’s payout ratio is -8.82%.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lifted their price target on Cannae from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th.

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.