Natixis Boosts Stock Holdings in Cannae Holdings, Inc. (NYSE:CNNE)

Natixis increased its position in Cannae Holdings, Inc. (NYSE:CNNE - Free Report) by 25.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,820 shares of the company's stock after acquiring an additional 15,000 shares during the period. Natixis owned about 0.12% of Cannae worth $1,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Management Group Inc. purchased a new position in shares of Cannae in the fourth quarter worth $16,643,000. Highbridge Capital Management LLC increased its holdings in Cannae by 12.0% in the 4th quarter. Highbridge Capital Management LLC now owns 581,088 shares of the company's stock worth $11,540,000 after buying an additional 62,437 shares in the last quarter. JPMorgan Chase & Co. raised its position in Cannae by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 454,688 shares of the company's stock worth $8,666,000 after buying an additional 44,691 shares during the last quarter. Crescent Grove Advisors LLC lifted its stake in Cannae by 1.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 324,220 shares of the company's stock valued at $6,439,000 after acquiring an additional 3,957 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Cannae during the 4th quarter valued at about $5,866,000. 88.12% of the stock is owned by institutional investors.

Cannae Trading Up 2.0 %

Shares of NYSE:CNNE opened at $17.17 on Wednesday. Cannae Holdings, Inc. has a 52-week low of $15.92 and a 52-week high of $22.36. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -3.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.55 and a current ratio of 2.55. The stock's 50-day simple moving average is $18.01 and its two-hundred day simple moving average is $19.22.

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 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Cannae Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.12 per share. The ex-dividend date was Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 2.80%. Cannae's dividend payout ratio (DPR) is -10.17%.

Analyst Ratings Changes

CNNE has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of 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 target price on shares of Cannae from $27.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, March 7th.

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.

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