Stifel Financial Corp Sells 2,222 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Stifel Financial Corp lessened its position in Cannae Holdings, Inc. (NYSE:CNNE) by 6.5% in the third quarter, HoldingsChannel reports. The fund owned 31,779 shares of the company’s stock after selling 2,222 shares during the quarter. Stifel Financial Corp’s holdings in Cannae were worth $606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rubric Capital Management LP raised its holdings in shares of Cannae by 17.8% in the second quarter. Rubric Capital Management LP now owns 1,430,248 shares of the company’s stock valued at $25,945,000 after purchasing an additional 216,031 shares during the last quarter. Factorial Partners LLC lifted its stake in Cannae by 242.6% in the 2nd quarter. Factorial Partners LLC now owns 184,177 shares of the company’s stock worth $3,341,000 after purchasing an additional 130,422 shares in the last quarter. Caxton Associates LP boosted its stake in Cannae by 259.7% during the second quarter. Caxton Associates LP now owns 121,436 shares of the company’s stock valued at $2,203,000 after buying an additional 87,673 shares during the period. XTX Topco Ltd bought a new stake in shares of Cannae during the 2nd quarter valued at about $519,000. Finally, Truist Financial Corp grew its stake in Cannae by 84.7% in the 2nd quarter. Truist Financial Corp now owns 43,158 shares of the company’s stock worth $783,000 after buying an additional 19,787 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

Cannae Price Performance

Shares of NYSE:CNNE opened at $19.97 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The business has a 50-day simple moving average of $20.39 and a two-hundred day simple moving average of $19.41. Cannae Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $22.99. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -4.15 and a beta of 0.85.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.22) EPS for the quarter, hitting the consensus estimate of ($0.22). The company had revenue of $113.90 million during the quarter, compared to analyst estimates of $105.67 million. Cannae had a negative return on equity of 8.26% and a negative net margin of 68.61%. Cannae’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.18) earnings per share. On average, analysts expect that Cannae Holdings, Inc. will post -3.14 earnings per share for the current year.

Cannae Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, December 17th. Cannae’s dividend payout ratio (DPR) is presently -9.98%.

Analyst Ratings Changes

Separately, Royal Bank of Canada boosted their price objective on shares of Cannae from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

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.