Cannae Holdings, Inc. (NYSE:CNNE) Shares Acquired by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. raised its position in shares of Cannae Holdings, Inc. (NYSE:CNNE) by 435.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,397 shares of the company’s stock after acquiring an additional 128,000 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.25% of Cannae worth $3,126,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CNNE. Private Management Group Inc. acquired a new position in shares of Cannae during the fourth quarter valued at approximately $16,643,000. FMR LLC grew its position in shares of Cannae by 17.6% in the third quarter. FMR LLC now owns 2,653,854 shares of the company’s stock valued at $50,582,000 after purchasing an additional 397,352 shares in the last quarter. Barclays PLC grew its position in shares of Cannae by 221.9% in the third quarter. Barclays PLC now owns 95,378 shares of the company’s stock valued at $1,818,000 after purchasing an additional 65,749 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Cannae by 31.4% in the fourth quarter. Bank of New York Mellon Corp now owns 263,659 shares of the company’s stock valued at $5,236,000 after purchasing an additional 62,987 shares in the last quarter. Finally, River Road Asset Management LLC grew its position in shares of Cannae by 0.9% in the third quarter. River Road Asset Management LLC now owns 5,665,103 shares of the company’s stock valued at $107,977,000 after purchasing an additional 50,150 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada dropped their price target on Cannae from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday.

Cannae Price Performance

CNNE stock opened at $20.04 on Friday. The firm has a market capitalization of $1.26 billion, a PE ratio of -4.17 and a beta of 0.86. Cannae Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $22.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.55 and a quick ratio of 2.55. The business has a 50 day simple moving average of $19.51 and a 200-day simple moving average of $19.69.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 2.40%. Cannae’s payout ratio is -10.17%.

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.