Cannae Holdings, Inc. (NYSE:CNNE) Announces Quarterly Dividend of $0.15

Cannae Holdings, Inc. (NYSE:CNNE) declared a quarterly dividend on Monday, February 23rd. Investors of record on Tuesday, March 17th will be given a dividend of 0.15 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, March 17th.

Cannae has a payout ratio of -56.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Cannae to earn ($1.17) per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of -51.3%.

Cannae Stock Performance

Cannae stock traded down $0.52 during mid-day trading on Monday, hitting $12.68. 492,618 shares of the company’s stock traded hands, compared to its average volume of 461,343. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $15.08 and a two-hundred day simple moving average of $16.86. Cannae has a fifty-two week low of $12.65 and a fifty-two week high of $21.96. The stock has a market cap of $624.77 million, a price-to-earnings ratio of -1.64 and a beta of 1.09.

Cannae (NYSE:CNNE) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($1.93) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($1.55). The company had revenue of $103.30 million during the quarter, compared to the consensus estimate of $102.70 million. Cannae had a negative net margin of 108.39% and a negative return on equity of 23.16%. Cannae’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.74) earnings per share. On average, research analysts expect that Cannae will post -3.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Cannae

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Cannae in the second quarter worth about $62,000. CWM LLC increased its position in Cannae by 40.4% during the 2nd quarter. CWM LLC now owns 3,253 shares of the company’s stock worth $68,000 after purchasing an additional 936 shares in the last quarter. Kelleher Financial Advisors bought a new position in Cannae in the 3rd quarter valued at approximately $73,000. Eurizon Capital SGR S.p.A. acquired a new stake in Cannae in the fourth quarter valued at approximately $85,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in Cannae by 66.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 4,168 shares of the company’s stock valued at $87,000 after buying an additional 1,669 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

About Cannae

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.