Cannae Holdings, Inc. (NYSE:CNNE) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 45.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,770 shares of the company's stock after selling 107,095 shares during the period. Legal & General Group Plc owned 0.20% of Cannae worth $2,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Global Retirement Partners LLC increased its stake in Cannae by 29.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock worth $104,000 after acquiring an additional 1,198 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cannae by 9.9% in the 4th quarter. SG Americas Securities LLC now owns 20,102 shares of the company's stock worth $399,000 after acquiring an additional 1,817 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Cannae by 19.6% in the 4th quarter. Park Avenue Securities LLC now owns 12,312 shares of the company's stock valued at $245,000 after purchasing an additional 2,014 shares during the last quarter. Spire Wealth Management purchased a new stake in Cannae in the fourth quarter valued at approximately $45,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Cannae by 133.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,268 shares of the company's stock worth $85,000 after purchasing an additional 2,436 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cannae Stock Up 2.5 %

NYSE:CNNE traded up $0.43 during mid-day trading on Friday, hitting $17.91. The stock had a trading volume of 388,563 shares, compared to its average volume of 450,712. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.10. Cannae Holdings, Inc. has a twelve month low of $15.92 and a twelve month high of $22.36. The company has a market capitalization of $1.12 billion, a PE ratio of -3.72 and a beta of 0.89. The stock has a 50-day simple moving average of $17.87 and a two-hundred day simple moving average of $19.21.

Cannae Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.68%. Cannae's payout ratio is currently -10.17%.

Cannae announced that its board has authorized a stock repurchase program on Tuesday, March 25th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CNNE. Oppenheimer lowered their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Royal Bank of Canada decreased their price target on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th.

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.