Charles Schwab Investment Management Inc. Sells 72,664 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Charles Schwab Investment Management Inc. lessened its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 542,488 shares of the company's stock after selling 72,664 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.86% of Cannae worth $10,774,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CNNE. BNP Paribas Financial Markets lifted its position in Cannae by 10.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,384 shares of the company's stock valued at $236,000 after purchasing an additional 1,150 shares during the period. Global Retirement Partners LLC lifted its holdings in Cannae by 29.6% in the fourth quarter. Global Retirement Partners LLC now owns 5,251 shares of the company's stock valued at $104,000 after buying an additional 1,198 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in Cannae by 9.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,133 shares of the company's stock valued at $384,000 after acquiring an additional 1,789 shares during the last quarter. SG Americas Securities LLC grew its holdings in Cannae by 9.9% during 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 period. Finally, Park Avenue Securities LLC grew its holdings in Cannae by 19.6% during the 4th quarter. Park Avenue Securities LLC now owns 12,312 shares of the company's stock worth $245,000 after acquiring an additional 2,014 shares during the period. Institutional investors and hedge funds own 88.12% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada reduced their price target on Cannae from $27.00 to $23.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Oppenheimer reduced their target price on Cannae from $27.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 7th.

Cannae Trading Down 1.8 %

NYSE:CNNE traded down $0.35 during trading hours on Wednesday, hitting $19.05. The stock had a trading volume of 703,434 shares, compared to its average volume of 461,798. The business's 50 day moving average is $18.85 and its 200-day moving average is $19.47. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -3.96 and a beta of 0.86. Cannae Holdings, Inc. has a one year low of $15.99 and a one year high of $22.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55.

Cannae declared that its board has initiated a share repurchase plan on Tuesday, March 25th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Cannae Dividend Announcement

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 paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, March 17th. Cannae's payout ratio is presently -10.17%.

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.