JPMorgan Chase & Co. Trims Stake in Cannae Holdings, Inc. (NYSE:CNNE)

JPMorgan Chase & Co. lessened its position in shares of Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 45.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,273 shares of the company's stock after selling 204,415 shares during the quarter. JPMorgan Chase & Co. owned about 0.40% of Cannae worth $4,970,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Cannae by 1.6% in the third quarter. State Street Corp now owns 1,605,351 shares of the company's stock valued at $30,598,000 after purchasing an additional 25,403 shares in the last quarter. MML Investors Services LLC lifted its position in Cannae by 10.7% during the third quarter. MML Investors Services LLC now owns 38,871 shares of the company's stock valued at $741,000 after purchasing an additional 3,771 shares during the last quarter. Barclays PLC grew 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 worth $1,818,000 after buying an additional 65,749 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Cannae in the 3rd quarter worth $906,000. Finally, Park Avenue Securities LLC increased its holdings in shares of Cannae by 19.6% in the 4th quarter. Park Avenue Securities LLC now owns 12,312 shares of the company's stock worth $245,000 after buying an additional 2,014 shares during the last quarter. Institutional investors own 88.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CNNE. Oppenheimer lowered their price objective on Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Royal Bank of Canada lowered their target price on shares of Cannae from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th.

Cannae Stock Up 0.1 %

Shares of Cannae stock traded up $0.02 during trading on Thursday, reaching $17.57. The company's stock had a trading volume of 38,841 shares, compared to its average volume of 446,037. Cannae Holdings, Inc. has a 1-year low of $15.92 and a 1-year high of $22.36. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -3.64 and a beta of 0.89. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.10. The company has a 50-day simple moving average of $17.96 and a two-hundred day simple moving average of $19.21.

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

Cannae Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.73%. The ex-dividend date was Monday, March 17th. Cannae's payout ratio is -10.17%.

About Cannae

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.