Geode Capital Management LLC Sells 15,570 Shares of Cannae Holdings, Inc. (NYSE:CNNE)

Geode Capital Management LLC lessened its stake in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,276,056 shares of the company's stock after selling 15,570 shares during the period. Geode Capital Management LLC owned about 2.03% of Cannae worth $25,348,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Cannae by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company's stock worth $8,666,000 after acquiring an additional 44,691 shares during the period. Barclays PLC increased its holdings 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 during the last quarter. Spire Wealth Management bought a new position in shares of Cannae in the fourth quarter valued at about $45,000. Strategic Financial Concepts LLC bought a new stake in shares of Cannae during the 4th quarter worth about $281,000. Finally, State Street Corp grew its stake in Cannae by 1.6% in the 3rd quarter. State Street Corp now owns 1,605,351 shares of the company's stock valued at $30,598,000 after buying an additional 25,403 shares during the last quarter. Institutional investors own 88.12% of the company's stock.

Wall Street Analyst Weigh In

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

Cannae Stock Performance

Cannae stock traded up $0.38 during midday trading on Wednesday, hitting $17.54. The company's stock had a trading volume of 50,332 shares, compared to its average volume of 572,342. 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 company has a market cap of $1.10 billion, a price-to-earnings ratio of -3.65 and a beta of 0.89. Cannae Holdings, Inc. has a 1-year low of $15.91 and a 1-year high of $22.36. The company has a 50-day moving average price of $18.01 and a two-hundred day moving average price of $19.22.

Cannae Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.12 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.74%. Cannae's payout ratio is -10.17%.

Cannae declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 25th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.