Sterling Capital Management LLC Has $364,000 Stake in Cannae Holdings, Inc. (NYSE:CNNE)

Sterling Capital Management LLC trimmed its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 54.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,348 shares of the company's stock after selling 21,782 shares during the period. Sterling Capital Management LLC's holdings in Cannae were worth $364,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CNNE. JPMorgan Chase & Co. boosted its stake in Cannae by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company's stock valued at $8,666,000 after buying an additional 44,691 shares in the last quarter. Barclays PLC boosted its stake in shares of Cannae by 221.9% in the 3rd 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. Spire Wealth Management bought a new stake in shares of Cannae during the 4th quarter valued at approximately $45,000. Strategic Financial Concepts LLC bought a new stake in shares of Cannae during the 4th quarter valued at approximately $281,000. Finally, State Street Corp increased its position in Cannae by 1.6% during the 3rd quarter. State Street Corp now owns 1,605,351 shares of the company's stock worth $30,598,000 after purchasing an additional 25,403 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CNNE has been the topic of a number of research reports. Royal Bank of Canada decreased their target price on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Oppenheimer reduced their price objective on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th.

Cannae Trading Up 1.6 %

NYSE:CNNE traded up $0.29 during mid-day trading on Friday, hitting $17.77. 98,392 shares of the company's stock were exchanged, compared to its average volume of 575,305. 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 fifty-two week low of $15.91 and a fifty-two week high of $22.36. The company has a 50 day simple moving average of $17.92 and a 200-day simple moving average of $19.21. The firm has a market capitalization of $1.12 billion, a P/E ratio of -3.69 and a beta of 0.89.

Cannae Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.12 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 2.70%. Cannae's dividend payout ratio is -10.17%.

Cannae announced that its board has approved a share repurchase plan on Tuesday, March 25th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

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.